Empire State Realty OP (FISK) 10-Q 4 Aug 23 2023 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2023	Jul. 28, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-36106
Entity Registrant Name	EMPIRE STATE REALTY OP, L.P.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-4685158
Entity Address, Address Line One	111 West 33rd Street
Entity Address, Address Line Two	12th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10120
City Area Code	212
Local Phone Number	850-2600
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001553079
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Series ES Operating Partnership Units Limited Partners
Document Information [Line Items]
Title of 12(b) Security	Series ES operating partnership units
Trading Symbol	ESBA
Security Exchange Name	NYSEArca
Entity Common Stock, Shares Outstanding		20,327,876
Series 60 Operating Partnership Units Limited Partners
Document Information [Line Items]
Title of 12(b) Security	Series 60 operating partnership units
Trading Symbol	OGCP
Security Exchange Name	NYSEArca
Entity Common Stock, Shares Outstanding		5,348,554
Series 250 operating partnership units
Document Information [Line Items]
Title of 12(b) Security	Series 250 operating partnership units
Trading Symbol	FISK
Security Exchange Name	NYSEArca
Entity Common Stock, Shares Outstanding		2,650,043

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Commercial real estate properties, at cost:
Land	$ 361,497	$ 365,540
Development costs	8,204	8,166
Building and improvements	3,196,181	3,177,743
Commercial real estate properties, at cost	3,565,882	3,551,449
Less: accumulated depreciation	(1,180,558)	(1,137,267)
Commercial real estate properties, net	2,385,324	2,414,182
Assets held for sale	0	35,538
Cash and cash equivalents	315,357	264,434
Restricted cash	80,451	50,244
Tenant and other receivables	32,901	24,102
Deferred rent receivables	249,881	240,188
Prepaid expenses and other assets	98,986	98,114
Deferred costs, net	176,678	187,570
Acquired below-market ground leases, net	325,157	329,073
Right of use assets	28,554	28,670
Goodwill	491,479	491,479
Total assets	4,184,768	4,163,594
Liabilities:
Mortgage notes payable, net	880,592	883,705
Senior unsecured notes, net	973,768	973,659
Unsecured term loan facilities, net	389,028	388,773
Unsecured revolving credit facility	0	0
Accounts payable and accrued expenses	71,709	80,729
Acquired below-market leases, net	15,280	17,849
Ground lease liabilities	28,554	28,670
Deferred revenue and other liabilities	73,972	76,091
Tenants’ security deposits	40,253	25,084
Liabilities related to assets held for sale	0	5,943
Total liabilities	2,473,156	2,480,503
Commitments and contingencies
Capital:
Total Empire State Realty OP, L.P.'s capital	1,696,172	1,667,625
Non-controlling interest in other partnerships	15,440	15,466
Total capital	1,711,612	1,683,091
Total liabilities and capital	4,184,768	4,163,594
Private perpetual preferred units, series 2019
Capital:
Private perpetual preferred units	21,936	21,936
Private perpetual preferred units, series 2014
Capital:
Private perpetual preferred units	8,004	8,004
Series PR Operating Partnership Units
Capital:
ESRT partner's capital (2,709 and 2,710 general partner operating partnership units and 158,122 and 158,420 limited partner operating partnership units outstanding in 2023 and 2022, respectively)	965,950	954,375
Limited partner operating partnership units	695,416	681,827
Series ES Operating Partnership Units Limited Partners
Capital:
Limited partner operating partnership units	3,810	1,391
Series 60 Operating Partnership Units Limited Partners
Capital:
Limited partner operating partnership units	681	16
Series 250 Operating Partnership Units Limited Partners
Capital:
Limited partner operating partnership units	$ 375	$ 76

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Private perpetual preferred units, series 2019
Capital:
Private perpetual preferred units, liquidation preference (in USD per share)	$ 13.52	$ 13.52
Private perpetual preferred units, issued (in shares)	4,664,038	4,664,000
Private perpetual preferred units, outstanding (in shares)	4,664,000	4,664,000
Private perpetual preferred units, series 2014
Capital:
Private perpetual preferred units, liquidation preference (in USD per share)	$ 16.62	$ 16.62
Private perpetual preferred units, issued (in shares)	1,560,000	1,560,000
Private perpetual preferred units, outstanding (in shares)	1,560,000	1,560,000
Series PR Operating Partnership Units
Capital:
Limited partner operating partnership units, outstanding (in shares)	81,611,000	80,475,000
Series ES Operating Partnership Units Limited Partners
Capital:
Limited partner operating partnership units, outstanding (in shares)	20,426,000	21,081,000
Series 60 Operating Partnership Units Limited Partners
Capital:
Limited partner operating partnership units, outstanding (in shares)	5,380,000	5,558,000
Series 250 Operating Partnership Units Limited Partners
Capital:
Limited partner operating partnership units, outstanding (in shares)	2,669,000	2,789,000
ESRT | Series PR Operating Partnership Units
Capital:
General partner operating partnership units, outstanding (in shares)	2,709,000	2,710,000
Limited partner operating partnership units, outstanding (in shares)	158,122,000	158,420,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues:
Rental revenue	$ 154,603	$ 149,339	$ 294,694	$ 296,853
Observatory revenue	33,433	27,368	55,587	40,609
Lease termination fees	0	18,859	0	20,032
Third-party management and other fees	381	326	808	636
Other revenue and fees	2,125	2,130	4,075	3,926
Total revenues	190,542	198,022	355,164	362,056
Operating expenses:
Property operating expenses	39,519	37,433	81,563	76,077
Ground rent expenses	2,332	2,332	4,663	4,663
General and administrative expenses	16,075	15,876	31,783	29,562
Observatory expenses	8,657	7,776	16,512	13,991
Real estate taxes	31,490	29,802	63,278	59,806
Depreciation and amortization	46,280	58,304	93,688	125,410
Total operating expenses	144,353	151,523	291,487	309,509
Total operating income (loss)	46,189	46,499	63,677	52,547
Other income (expense):
Interest income	3,339	431	5,934	580
Interest expense	(25,405)	(25,042)	(50,709)	(50,056)
Gain on disposition of property	13,565	27,170	29,261	27,170
Income (loss) before income taxes	37,688	49,058	48,163	30,241
Income tax benefit (expense)	(733)	(363)	486	1,233
Net income	36,955	48,695	48,649	31,474
Private perpetual preferred unit distributions	(1,051)	(1,051)	(2,101)	(2,101)
Net (income) loss attributable to non-controlling interest in other partnerships	(1)	159	42	222
Net income attributable to common unitholders	$ 35,903	$ 47,803	$ 46,590	$ 29,595
Total weighted average units:
Basic (in shares)	262,903	270,078	263,694	271,834
Diluted (in shares)	264,196	270,085	264,736	271,837
Earnings per unit attributable to common unitholders:
Basic (in USD per share)	$ 0.14	$ 0.17	$ 0.18	$ 0.11
Diluted (in USD per share)	0.14	0.17	0.18	0.11
Dividends per unit ((in USD per share)	$ 0.035	$ 0.035	$ 0.070	$ 0.070

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 36,955	$ 48,695	$ 48,649	$ 31,474
Other comprehensive income:
Unrealized gain on valuation of interest rate swap agreements	11,935	10,057	6,533	19,819
Less: amount reclassified into interest expense	(1,882)	2,741	(3,154)	6,036
Other comprehensive income	10,053	12,798	3,379	25,855
Comprehensive income	47,008	61,493	52,028	57,329
Net (income) loss attributable to non-controlling interest in other partnerships	(1)	159	42	222
Other comprehensive (income) loss attributable to non-controlling interest in other partnerships	(285)	(1,627)	96	(1,627)
Comprehensive income attributable to OP unitholders	$ 46,722	$ 60,025	$ 52,166	$ 55,924

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Capital - USD ($) $ in Thousands	1 Months Ended		3 Months Ended		6 Months Ended
	Jun. 30, 2023	Apr. 30, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance		$ 1,677,066	$ 1,677,066	$ 1,662,032	$ 1,683,091	$ 1,684,332
Conversion of operating partnership units to ESRT Partner's Capital			0	0	0	0
Contributions from consolidated joint ventures			94		112	224
Repurchases of common units (in shares)	0	(1,214,770)
Repurchases of common units			(7,411)	(52,439)	(13,105)	(64,440)
Equity compensation			5,369	5,765	9,743	10,225
Distributions			(10,514)	(10,758)	(20,257)	(21,577)
Net income (loss)			36,955	48,695	48,649	31,474
Other comprehensive income			10,053	12,798	3,379	25,855
Ending balance	$ 1,711,612		$ 1,711,612	$ 1,666,093	$ 1,711,612	$ 1,666,093
General Partner | Series PR Operating Partnership Units
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance (in shares)		161,329,000	161,329,000	169,726,000	161,129,000	170,217,000
Beginning balance		$ 948,251	$ 948,251	$ 978,421	$ 954,375	$ 998,128
Conversion of operating partnership units to ESRT Partner's Capital (in shares)			726,000	565,000	1,532,000	1,138,000
Conversion of operating partnership units to ESRT Partner's Capital			$ 2,475	$ 848	$ 5,019	$ 2,345
Repurchases of common units (in shares)			(1,218,000)	(6,611,000)	(2,151,000)	(7,866,000)
Repurchases of common units			$ (7,411)	$ (52,439)	$ (13,105)	$ (64,440)
Equity compensation (in shares)			(7,000)	4,000	320,000	195,000
Equity compensation			$ 448	$ 318	$ 469	$ 257
Distributions			(5,622)	(5,802)	(11,297)	(11,750)
Net income (loss)			21,854	29,579	28,373	18,290
Other comprehensive income			$ 5,955	$ 6,878	$ 2,116	$ 14,973
Ending balance (in shares)	160,830,000		160,830,000	163,684,000	160,830,000	163,684,000
Ending balance	$ 965,950		$ 965,950	$ 957,803	$ 965,950	$ 957,803
Limited Partners | Series PR Operating Partnership Units
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance (in shares)		81,712,000	81,712,000	80,998,000	80,475,000	79,820,000
Beginning balance		$ 682,972	$ 682,972	$ 648,004	$ 681,827	$ 649,157
Conversion of operating partnership units to ESRT Partner's Capital (in shares)			(297,000)	(119,000)	(579,000)	(309,000)
Conversion of operating partnership units to ESRT Partner's Capital			$ (2,474)	$ (944)	$ (4,907)	$ (2,499)
Equity compensation (in shares)			196,000	194,000	1,715,000	1,562,000
Equity compensation			$ 4,921	$ 5,447	$ 9,274	$ 9,968
Distributions			(2,840)	(2,841)	(4,846)	(5,584)
Net income (loss)			10,099	12,823	13,092	7,961
Other comprehensive income			$ 2,738	$ 3,031	$ 976	$ 6,517
Ending balance (in shares)	81,611,000		81,611,000	81,073,000	81,611,000	81,073,000
Ending balance	$ 695,416		$ 695,416	$ 665,520	$ 695,416	$ 665,520
Limited Partners | Series ES Operating Partnership Units Limited Partners
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance (in shares)		20,684,000	20,684,000	22,034,000	21,081,000	22,321,000
Beginning balance		$ 925	$ 925	$ (5,206)	$ 1,391	$ (4,058)
Conversion of operating partnership units to ESRT Partner's Capital (in shares)			(258,000)	(288,000)	(655,000)	(575,000)
Conversion of operating partnership units to ESRT Partner's Capital			$ (6)	$ 56	$ (95)	$ 96
Distributions			(718)	(763)	(1,442)	(1,534)
Net income (loss)			2,837	3,872	3,681	2,397
Other comprehensive income			$ 772	$ 904	$ 275	$ 1,962
Ending balance (in shares)	20,426,000		20,426,000	21,746,000	20,426,000	21,746,000
Ending balance	$ 3,810		$ 3,810	$ (1,137)	$ 3,810	$ (1,137)
Limited Partners | Series 60 Operating Partnership Units Limited Partners
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance (in shares)		5,503,000	5,503,000	5,821,000	5,558,000	5,884,000
Beginning balance		$ (94)	$ (94)	$ (1,695)	$ 16	$ (1,395)
Conversion of operating partnership units to ESRT Partner's Capital (in shares)			(123,000)	(83,000)	(178,000)	(146,000)
Conversion of operating partnership units to ESRT Partner's Capital			$ 5	$ 21	$ (4)	$ 33
Distributions			(189)	(201)	(382)	(405)
Net income (loss)			754	1,003	978	621
Other comprehensive income			$ 205	$ 235	$ 73	$ 509
Ending balance (in shares)	5,380,000		5,380,000	5,738,000	5,380,000	5,738,000
Ending balance	$ 681		$ 681	$ (637)	$ 681	$ (637)
Limited Partners | Series 250 Operating Partnership Units Limited Partners
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance (in shares)		2,717,000	2,717,000	2,937,000	2,789,000	2,970,000
Beginning balance		$ 12	$ 12	$ (845)	$ 76	$ (692)
Conversion of operating partnership units to ESRT Partner's Capital (in shares)			(48,000)	(75,000)	(120,000)	(108,000)
Conversion of operating partnership units to ESRT Partner's Capital				$ 19	$ (13)	$ 25
Distributions			$ (94)	(100)	(189)	(203)
Net income (loss)			359	526	466	326
Other comprehensive income			$ 98	$ 123	$ 35	$ 267
Ending balance (in shares)	2,669,000		2,669,000	2,862,000	2,669,000	2,862,000
Ending balance	$ 375		$ 375	$ (277)	$ 375	$ (277)
Private Perpetual Preferred Units
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance (in shares)		6,224,000	6,224,000	6,224,000	6,224,000	6,224,000
Beginning balance		$ 29,940	$ 29,940	$ 29,940	$ 29,940	$ 29,940
Distributions			(1,051)	(1,051)	(2,101)	(2,101)
Net income (loss)			$ 1,051	$ 1,051	$ 2,101	$ 2,101
Ending balance (in shares)	6,224,000		6,224,000	6,224,000	6,224,000	6,224,000
Ending balance	$ 29,940		$ 29,940	$ 29,940	$ 29,940	$ 29,940
Non-controlling Interest in Other Partnerships
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning balance		$ 15,060	15,060	13,413	15,466	13,252
Contributions from consolidated joint ventures			94		112	224
Net income (loss)			1	(159)	(42)	(222)
Other comprehensive income			285	1,627	(96)	1,627
Ending balance	$ 15,440		$ 15,440	$ 14,881	$ 15,440	$ 14,881

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash Flows From Operating Activities
Net income (loss)	$ 48,649	$ 31,474
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	93,688	125,410
Gain on disposition of property	(29,261)	(27,170)
Amortization of non-cash items within interest expense	4,521	5,169
Amortization of acquired above- and below-market leases, net	(1,378)	(3,459)
Amortization of acquired below-market ground leases	3,916	3,916
Straight-lining of rental revenue	(12,415)	(11,192)
Equity based compensation	9,743	10,225
Increase (decrease) in cash flows due to changes in operating assets and liabilities:
Security deposits	15,326	866
Tenant and other receivables	(8,708)	(24,831)
Deferred leasing costs	(9,316)	(21,826)
Prepaid expenses and other assets	957	(1,242)
Accounts payable and accrued expenses	(9,324)	(2,235)
Deferred revenue and other liabilities	(492)	(1,427)
Net cash provided by operating activities	105,906	83,678
Cash Flows From Investing Activities
Net proceeds from disposition of property	88,910	0
Development costs	0	(31)
Additions to building and improvements	(76,166)	(56,614)
Net cash provided by (used in) investing activities	12,744	(56,645)
Cash Flows From Financing Activities
Repayment of mortgage notes payable	(4,270)	(3,119)
Contributions from consolidated joint ventures	112	224
Repurchases of common units	(13,105)	(64,440)
Distributions	(20,257)	(21,577)
Net cash used in financing activities	(37,520)	(88,912)
Net increase (decrease) in cash and cash equivalents and restricted cash	81,130	(61,879)
Cash and cash equivalents and restricted cash—beginning of period	314,678	474,638
Cash and cash equivalents and restricted cash—end of period	395,808	412,759
Reconciliation of Cash and Cash Equivalents and Restricted Cash:
Cash and cash equivalents at beginning of period	264,434	423,695
Restricted cash at beginning of period	50,244	50,943
Cash and cash equivalents at end of period	315,357	359,424
Restricted cash at end of period	80,451	53,335
Cash and cash equivalents and restricted cash	395,808	412,759
Supplemental disclosures of cash flow information:
Cash paid for interest	46,116	40,199
Cash paid for income taxes	405	268
Non-cash investing and financing activities:
Building and improvements included in accounts payable and accrued expenses	38,677	67,815
Write-off of fully depreciated assets	21,182	38,518
Derivative instruments at fair values included in prepaid expenses and other assets	19,329	4,082
Derivative instruments at fair values included in accounts payable and accrued expenses	0	19,695
Conversion of operating partnership units to ESRT partner's capital	5,019	2,345
Disposal of land in connection with foreclosure	0	1,680
Extinguishment of debt in connection with property disposition	$ 0	$ 30,000

Description of Business and Org

Description of Business and Organization	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Organization	Description of Business and Organization As used in these condensed consolidated financial statements, unless the context otherwise requires, “we,” “us,” “our,” and the “Company,” mean Empire State Realty OP, L.P. and its consolidated subsidiaries. Empire State Realty OP, L.P. (the "Operating Partnership") is the entity through which Empire State Realty Trust, Inc. (“ESRT”), a self-administered and self-managed real estate investment trust ("REIT"), conducts all of its business and owns (either directly or through subsidiaries) substantially all of its assets. We own, manage, operate, acquire and reposition office, retail and multifamily properties in Manhattan and the greater New York metropolitan area. As the owner of the Empire State Building, the World’s Most Famous Building, ESRT also owns and operates its iconic, newly reimagined Observatory Experience. As of June 30, 2023, our office and retail portfolio contained 9.4 million rentable square feet of office and retail space. We owned 11 office properties (including three long-term ground leasehold interests) encompassing approximately 8.6 million rentable square feet of office space. Nine of these properties are located in the midtown Manhattan market and encompass approximately 7.6 million rentable square feet of office space, including the Empire State Building. Our Manhattan office and multifamily properties also contain an aggregate of approximately 0.5 million rentable square feet of retail space on their ground floor and/or contiguous levels. Our remaining two office properties are located in Fairfield County, Connecticut, encompassing approximately 1.1 million rentable square feet. These two properties are located in densely populated metropolitan communities with immediate access to mass transportation. Additionally, we have entitled land at the Stamford Transportation Center in Stamford, Connecticut, adjacent to one of our office properties, that will support the development of an approximately 0.4 million rentable square foot office building and garage. As of June 30, 2023, our portfolio included four standalone retail properties located in Manhattan encompassing approximately 0.2 million rentable square feet. Additionally, as of June 30, 2023, our portfolio included three multifamily properties located in Manhattan totaling 721 units. We were organized as a Delaware limited partnership on November 28, 2011, and operations commenced upon completion of the initial public offering of ESRT’s Class A common stock and related formation transactions on October 7, 2013 (the "IPO"). ESRT's Class A common stock, par value $0.01 per share, is listed on the New York Stock Exchange under the symbol "ESRT." ESRT, as the sole general partner in our Company, has responsibility and discretion in the management and control of our Company, and our limited partners, in such capacity, have no authority to transact business for, or participate in the management activities, of our Company. As of June 30, 2023, ESRT owned approximately 59.4% of our operating partnership units.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies There have been no material changes to the summary of significant accounting policies included in the "Summary of Significant Accounting Policies" section in our Annual Report on Form 10-K for the year ended December 31, 2022 (the “Annual Report”). Basis of Quarterly Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP"), for interim financial information, and with the rules and regulations of the Securities and Exchange Commission (the "SEC"). Accordingly, certain information and footnote disclosures required by GAAP for complete financial statements have been condensed or omitted in accordance with such rules and regulations. In the opinion of management, all adjustments and eliminations (including intercompany balances and transactions), consisting of normal recurring adjustments, considered necessary for the fair presentation of the financial statements have been included. The results of operations for the periods presented are not necessarily indicative of the results that may be expected for the corresponding full years. These financial statements should be read in conjunction with the financial statements and accompanying notes included in the financial statements for the year ended December 31, 2022 contained in our Annual Report. Our observatory business is subject to seasonality based on tourism trends and the weather. Pre-pandemic, approximately 16.0% to 18.0% of our annual observatory revenue was realized in the first quarter, 26.0% to 28.0% was realized in the second quarter, 31.0% to 33.0% was realized in the third quarter, and 23.0% to 25.0% was realized in the fourth quarter. Our multifamily business experiences some seasonality based on general market trends in New York City – the winter months (November through January) are slower in terms of leasing activity. We seek to mitigate this by staggering lease terms such that lease expirations are matched with seasonal demand. We do not consider the balance of our business to be subject to material seasonal fluctuations. We consolidate entities in which we have a controlling financial interest. In determining whether we have a controlling financial interest in a partially owned entity and the requirement to consolidate the accounts of that entity, we consider factors such as ownership interest, board representation, management representation, authority to make decisions, and contractual and substantive participating rights of the partners/members. For variable interest entities ("VIE"), we consolidate the entity if we are deemed to have a variable interest in the entity and through that interest we are deemed the primary beneficiary. The primary beneficiary of a VIE is the entity that has (i) the power to direct the activities that most significantly impact the entity's economic performance and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could be significant to the VIE. The primary beneficiary is required to consolidate the VIE. At December 31, 2022, we were the primary beneficiary of a variable interest in the intermediary entity which held title to 298 Mulberry, the multifamily asset acquired in December 2022. The intermediary entity was utilized to execute a like-kind exchange and subsequent to March 31, 2023, the like-kind exchange was completed and we took title to 298 Mulberry. Therefore,we had no VIEs at June 30, 2023. We will assess the accounting treatment for each investment we may have in the future. This assessment will include a review of each entity’s organizational agreement to determine which party has what rights and whether those rights are protective or participating. For all VIEs, we will review such agreements in order to determine which party has the power to direct the activities that most significantly impact the entity’s economic performance and benefit. In situations where we or our partner could approve, among other things, the annual budget, or leases that cover more than a nominal amount of space relative to the total rentable space at each property, we would not consolidate the investment as we consider these to be substantive participation rights that result in shared power of the activities that would most significantly impact the performance and benefit of such joint venture investment. A non-controlling interest in a consolidated subsidiary is defined as the portion of the equity (net assets) in a subsidiary not attributable, directly or indirectly, to a parent. Non-controlling interests are required to be presented as a separate component of equity in the condensed consolidated balance sheets and in the condensed consolidated statements of operations by requiring earnings and other comprehensive income to be attributed to controlling and non-controlling interests. Accounting Estimates

Acquisitions and Dispositions

Acquisitions and Dispositions	6 Months Ended
	Jun. 30, 2023
Business Combination and Dispositions [Abstract]
Acquisitions and Dispositions	Acquisitions and Dispositions In December 2022, we entered into a purchase and sale agreement for 500 Mamaroneck Avenue in Harrison, NY at a gross asset valuation of $53.0 million. The assets and related liabilities of the 500 Mamaroneck property were classified as held for sale in our condensed consolidated balance sheets as of December 31, 2022 having met the held-for-sale criteria set forth in ASC 360 Property, Plant, and Equipment. We closed on the sale of this property on April 5, 2023 and no longer classify its assets and related liabilities as held for sale as of June 30, 2023. In connection with the sale, we recorded a gain of $13.6 million which is included in Gain on disposition of property in our condensed consolidated statements of operations. In accordance with ASC 450, included in this gain is approximately $2.0 million of estimated post-closing obligations related to contaminated soil remediation costs and our commitment to reimburse the buyer for a delay in rent commencement from a tenant impacted by the soil remediation efforts. On February 1, 2023, we closed on the sale of 69-97 and 103-107 Main Street in Westport, Connecticut at a gross asset valuation of $40.0 million, and recorded a gain of $15.7 million, which is included in Gain on disposition of property in our

Deferred Costs, Acquired Lease

Deferred Costs, Acquired Lease Intangibles and Goodwill	6 Months Ended
	Jun. 30, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deferred Costs, Acquired Lease Intangibles and Goodwill	Deferred Costs, Acquired Lease Intangibles and Goodwill Deferred costs, net, consisted of the following as of June 30, 2023 and December 31, 2022 (amounts in thousands): June 30, 2023 December 31, 2022 Leasing costs $ 219,404 $ 218,707 Acquired in-place lease value and deferred leasing costs 159,356 160,683 Acquired above-market leases 25,880 27,833 404,640 407,223 Less: accumulated amortization (231,886) (223,246) Total deferred costs, net, excluding net deferred financing costs $ 172,754 $ 183,977 At June 30, 2023 and December 31, 2022, $3.9 million and $5.0 million, respectively, of net deferred financing costs associated with the unsecured revolving credit facility was included in deferred costs, net on the condensed consolidated balance sheets. Amortization expense related to deferred leasing costs and acquired deferred leasing costs was $6.1 million and $11.9 million for the three and six months ended June 30, 2023, respectively, and $7.3 million and $14.3 million for the three and six months ended June 30, 2022, respectively. Amortization expense related to acquired lease intangibles was $2.3 million and $4.6 million for the three and six months ended June 30, 2023, respectively, and $4.1 million and $8.3 million for the three and six months ended June 30, 2022, respectively. Amortizing acquired intangible assets and liabilities consisted of the following as of June 30, 2023 and December 31, 2022 (amounts in thousands): June 30, 2023 December 31, 2022 Acquired below-market ground leases $ 396,916 $ 396,916 Less: accumulated amortization (71,759) (67,843) Acquired below-market ground leases, net $ 325,157 $ 329,073 June 30, 2023 December 31, 2022 Acquired below-market leases $ (63,831) $ (64,656) Less: accumulated amortization 48,551 46,807 Acquired below-market leases, net $ (15,280) $ (17,849) Rental revenue related to the amortization of below-market leases, net of above-market leases, was $0.7 million and $1.4 million for the three and six months ended June 30, 2023, respectively, and $1.7 million and $3.5 million for the three and six months ended June 30, 2022, respectively. As of June 30, 2023 and December 31, 2022, we had goodwill of $491.5 million. Goodwill was allocated $227.5 million to the observatory reportable segment and $264.0 million to the real estate reportable segment. From the quarter ended June 30, 2020 through our annual goodwill testing in October 2022, we bypassed the optional qualitative goodwill impairment assessment and proceeded directly to a quantitative assessment of the observatory reportable segment and engaged a third-party valuation consulting firm to perform the valuation process. This was done in response to the temporary closure of our observatory due to the COVID-19 pandemic and subsequent slow increase in visitors due to continued pandemic-related restrictions impacting tourism and international travel. The quantitative analysis used a combination of the discounted cash flow method (a form of the income approach) utilizing Level 3 unobservable inputs and the guideline company method (a form of the market approach). Significant assumptions under the former included revenue and cost projections, weighted average cost of capital, long-term growth rate and income tax considerations while the latter included guideline company enterprise values, revenue multiples and control premium rates. Our methodology to review goodwill impairment,

Debt

Debt	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt	Debt Debt consisted of the following as of June 30, 2023 and December 31, 2022 (amounts in thousands): Principal Balance As of June 30, 2023 June 30, 2023 December 31, 2022 Stated Effective (1) Maturity (2) Mortgage debt collateralized by: Fixed rate mortgage debt Metro Center $ 81,344 $ 82,596 3.59 % 3.67 % 11/5/2024 10 Union Square 50,000 50,000 3.70 % 3.97 % 4/1/2026 1542 Third Avenue 30,000 30,000 4.29 % 4.53 % 5/1/2027 First Stamford Place (3) 177,347 178,823 4.28 % 4.73 % 7/1/2027 1010 Third Avenue and 77 West 55th Street 35,399 35,831 4.01 % 4.21 % 1/5/2028 250 West 57th Street 180,000 180,000 2.83 % 3.21 % 12/1/2030 1333 Broadway 160,000 160,000 4.21 % 4.29 % 2/5/2033 345 East 94th Street - Series A (5) 43,600 43,600 70.0% of SOFR plus 0.95% 3.56 % 11/1/2030 345 East 94th Street - Series B (5) 7,544 7,865 SOFR plus 2.24% 3.56 % 11/1/2030 561 10th Avenue - Series A (5) 114,500 114,500 70.0% of SOFR plus 1.07% 3.85 % 11/1/2033 561 10th Avenue - Series B (5) 16,627 17,415 SOFR plus 2.45% 3.85 % 11/1/2033 Total mortgage debt 896,361 900,630 Senior unsecured notes: (4) Series A 100,000 100,000 3.93 % 3.96 % 3/27/2025 Series B 125,000 125,000 4.09 % 4.12 % 3/27/2027 Series C 125,000 125,000 4.18 % 4.21 % 3/27/2030 Series D 115,000 115,000 4.08 % 4.11 % 1/22/2028 Series E 160,000 160,000 4.26 % 4.27 % 3/22/2030 Series F 175,000 175,000 4.44 % 4.45 % 3/22/2033 Series G 100,000 100,000 3.61 % 4.89 % 3/17/2032 Series H 75,000 75,000 3.73 % 5.00 % 3/17/2035 Unsecured term loan facility (4) 215,000 215,000 SOFR plus 1.20% 4.22 % 3/19/2025 Unsecured revolving credit facility (4) — — SOFR plus 1.30% — 3/31/2025 Unsecured term loan facility (4) 175,000 175,000 SOFR plus 1.50% 4.51 % 12/31/2026 Total principal 2,261,361 2,265,630 Deferred financing costs, net (10,619) (11,748) Unamortized debt discount (7,354) (7,745) Total $ 2,243,388 $ 2,246,137 ______________ (1) The effective rate is the yield as of June 30, 2023 and includes the stated interest rate, deferred financing cost amortization and interest associated with variable to fixed interest rate swap agreements. (2) Pre-payment is generally allowed for each loan upon payment of a customary pre-payment penalty. (3) Represents a $164 million mortgage loan bearing interest at 4.09% and a $13.3 million loan bearing interest at 6.25%. (4) At June 30, 2023, we were in compliance with all debt covenants. (5) As of May 18, 2023, the benchmark index rate was converted from LIBOR to SOFR, plus a benchmark adjustment of 11.4 basis points. Principal Payments Aggregate required principal payments at June 30, 2023 are as follows (amounts in thousands): Year Amortization Maturities Total 2023 $ 4,363 $ — $ 4,363 2024 8,861 77,675 86,536 2025 6,893 315,000 321,893 2026 7,330 225,000 232,330 2027 6,461 319,000 325,461 Thereafter 22,079 1,268,699 1,290,778 Total $ 55,987 $ 2,205,374 $ 2,261,361 Deferred Financing Costs Deferred financing costs, net, consisted of the following at June 30, 2023 and December 31, 2022 (amounts in thousands): June 30, 2023 December 31, 2022 Financing costs $ 43,473 $ 43,473 Less: accumulated amortization (28,931) (26,753) Total deferred financing costs, net $ 14,542 $ 16,720 Amortization expense related to deferred financing costs was $1.1 million and $2.2 million for the three and six months ended June 30, 2023, respectively, and $1.3 million and $2.7 million for the three and six months ended June 30, 2022, respectively. Unsecured Revolving Credit and Term Loan Facilities On August 29, 2022, we entered into a third amendment to our amended and restated credit agreement dated August 29, 2017 with Bank of America, N.A., as administrative agent and the other lenders party thereto, which governs our senior unsecured revolving credit facility and term loan facility (collectively, the “BofA Credit Facility”). The BofA Credit Facility is in the initial maximum principal amount of up to $1.065 billion, which consists of an $850.0 million revolving credit facility that matures on March 31, 2025, and a $215.0 million term loan facility that matures on March 19, 2025. The third amendment revised the terms of the BofA Credit Facility to (i) replace LIBOR with SOFR given the phase-out of LIBOR and (ii) permit the addition of multifamily assets as Unencumbered Eligible Property (as defined therein) and add a capitalization rate for such assets. As of June 30, 2023 , we had no borrowings under the revolving credit facility and $215.0 million under the term loan facility. On August 29, 2022, we entered into a second amendment to our credit agreement dated March 19, 2020 with Wells Fargo Bank, National Association, as administrative agent, and the other lenders party thereto, which governs a senior unsecured term loan facility (the “Wells Term Loan Facility”). The Wells Term Loan Facility is in the original principal amount of $175.0 million and matures on December 31, 2026. The second amendment revised the terms of the Wells Term Loan Facility to (i) replace LIBOR with SOFR given the phase-out of LIBOR and (ii) permit the addition of multifamily assets as Unencumbered Eligible Property (as defined therein) and add a capitalization rate for such assets. We may request the Wells Term Loan Facility be increased through one or more increases or the addition of new pari passu term loan tranches, for a maximum aggregate principal amount not to exceed $225 million. As of June 30, 2023 , our borrowings amounted to $175.0 million under the Wells Term Loan Facility. The terms of both the BofA Credit Facility and the Wells Term Loan Facility include customary covenants, including limitations on liens, investment, distributions, debt, fundamental changes, and transactions with affiliates and require certain customary financial reports. Both facilities also require compliance with financial ratios including a maximum leverage ratio, a maximum secured leverage ratio, a minimum fixed charge coverage ratio, a minimum unencumbered interest coverage ratio, and a maximum unsecured leverage ratio. The agreements governing both facilities also contain customary events of default (subject in certain cases to specified cure periods), including but not limited to non-payment, breach of covenants, representations or warranties, cross defaults, bankruptcy or other insolvency events, judgments, ERISA events, invalidity of loan documents, loss of real estate investment trust qualification, and occurrence of a change of control. As of June 30, 2023, we were in compliance with these covenants. Senior Unsecured Notes The terms of the senior unsecured notes include customary covenants, including limitations on liens, investment, distributions, debt, fundamental changes, and transactions with affiliates and require certain customary financial reports. It also requires compliance with financial ratios including a maximum leverage ratio, a maximum secured leverage ratio, a minimum fixed charge coverage ratio, a minimum unencumbered interest coverage ratio, and a maximum unsecured leverage ratio. The agreements also contain customary events of default (subject in certain cases to specified cure periods), including but not limited to non-payment, breach of covenants, representations or warranties, cross defaults, bankruptcy or other insolvency events, judgments, ERISA events, the occurrence of certain change of control transactions and loss of real estate investment trust qualification. As of June 30, 2023, we were in compliance with these covenants.

Accounts Payable and Accrued Ex

Accounts Payable and Accrued Expenses	6 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Accounts Payable and Accrued Expenses	Accounts Payable and Accrued Expenses Accounts payable and accrued expenses consisted of the following as of June 30, 2023 and December 31, 2022 (amounts in thousands): June 30, 2023 December 31, 2022 Accrued capital expenditures $ 38,677 $ 44,293 Accounts payable and accrued expenses 29,468 32,927 Accrued interest payable 3,564 3,509 Total accounts payable and accrued expenses $ 71,709 $ 80,729

Financial Instruments and Fair

Financial Instruments and Fair Values	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Financial Instruments and Fair Values	Financial Instruments and Fair Values Derivative Financial Instruments We use derivative financial instruments primarily to manage interest rate risk and such derivatives are not considered speculative. These derivative instruments are typically in the form of interest rate swap and forward agreements, and the primary objective is to minimize interest rate risks associated with investing and financing activities. The counterparties of these arrangements are major financial institutions with which we may also have other financial relationships. We are exposed to credit risk in the event of non-performance by these counterparties; however, we currently do not anticipate that any of the counterparties will fail to meet their obligations. We have agreements with our derivative counterparties that contain a provision where if we either default or are capable of being declared in default on any of our indebtedness, then we could also be declared in default on our derivative obligations. As of June 30, 2023, we did not have derivatives in a net liability position. As of June 30, 2023 and December 31, 2022, we had interest rate swaps and caps with an aggregate notional value of $574.0 million and $574.8 million, respectively. The notional value does not represent exposure to credit, interest rate or market risks. As of June 30, 2023 and December 31, 2022, the fair value of our derivative instruments in an asset position amounted to $19.4 million and $17.9 million, respectively, which is included in prepaid expenses and other assets on the condensed consolidated balance sheets. These interest rate swaps have been designated as cash flow hedges and hedge the variability in future cash flows associated with our existing variable-rate term loan facilities. Interest rate caps not designated as hedges are not speculative and are used to manage our exposure to interest rate movements, but do not meet the strict hedge accounting requirements. As of June 30, 2023 and 2022, our cash flow hedges are deemed highly effective and a net unrealized gain of $10.1 million and $3.4 million for the three and six months ended June 30, 2023, respectively and a net unrealized gain of $12.8 million and $25.9 million for the three and six months ended June 30, 2022, respectively, relating to both active and terminated hedges of interest rate risk, are reflected in the condensed consolidated statements of comprehensive income (loss). Amounts reported in accumulated other comprehensive loss related to derivatives will be reclassified to interest expense as interest payments are made on the debt. We estimate that $8.5 million net gain of the current balance held in accumulated other comprehensive income (loss) will be reclassified into interest expense within the next 12 months. The table below summarizes the terms of agreements and the fair values of our derivative financial instruments as of June 30, 2023 and December 31, 2022 (amounts in thousands): June 30, 2023 December 31, 2022 Derivative Notional Amount Receive Rate Pay Rate Effective Date Expiration Date Asset Liability Asset Liability Interest rate swap $ 36,820 70% of 1 Month SOFR 2.5000% December 1, 2021 November 1, 2030 $ 364 $ — $ 256 $ — Interest rate swap 103,790 70% of 1 Month SOFR 2.5000% December 1, 2021 November 1, 2033 375 — 365 — Interest rate swap 10,710 70% of 1 Month SOFR 1.7570% December 1, 2021 November 1, 2033 626 — 643 — Interest rate swap 16,761 1 Month SOFR 2.2540% December 1, 2021 November 1, 2030 1,067 — 1,070 — Interest rate cap 6,780 70% of 1 Month SOFR 4.5000% December 1, 2021 October 1, 2024 4 — 8 — Interest rate cap 9,188 1 Month SOFR 5.5000% December 1, 2021 October 1, 2024 28 — 26 — Interest rate swap 175,000 SOFR Compound 2.5620% August 31, 2022 December 31, 2026 8,961 — 8,040 — Interest rate swap 107,500 SOFR Compound 2.6260% August 19, 2022 March 19, 2025 3,967 — 3,766 — Interest rate swap 107,500 SOFR OIS Compound 2.6280% August 19, 2022 March 19, 2025 3,969 — 3,762 — $ 19,361 $ — $ 17,936 $ — The table below shows the effect of our derivative financial instruments designated as cash flow hedges on accumulated other comprehensive income (loss) for the three and six months ended June 30, 2023 and 2022 (amounts in thousands): Three Months Ended Six Months Ended Effects of Cash Flow Hedges June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Amount of gain (loss) recognized in other comprehensive income (loss) $ 11,935 $ 10,057 $ 6,533 $ 19,819 Amount of loss reclassified from accumulated other comprehensive income (loss) into interest expense 1,882 (2,741) 3,154 (6,036) The table below shows the effect of our derivative financial instruments designated as cash flow hedges on the condensed consolidated statements of operations for the three and six months ended June 30, 2023 and 2022 (amounts in thousands): Three Months Ended Six Months Ended Effects of Cash Flow Hedges June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Total interest expense presented in the condensed consolidated statements of operations in which the effects of cash flow hedges are recorded $ (25,405) $ (25,042) $ (50,709) $ (50,056) Amount of loss reclassified from accumulated other comprehensive income (loss) into interest expense 1,882 (2,741) 3,154 (6,036) Fair Valuation The estimated fair values at June 30, 2023 and December 31, 2022 were determined by management, using available market information and appropriate valuation methodologies. Considerable judgment is necessary to interpret market data and develop estimated fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts we could realize on disposition of the financial instruments. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts. The fair value of derivative instruments is determined using widely accepted valuation techniques, including discounted cash flow analysis on the expected cash flows of each derivative. Although the majority of the inputs used to value our derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with our derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by ourselves and our counterparties. The impact of such credit valuation adjustments, determined based on the fair value of each individual contract, was not significant to the overall valuation. As a result, all our derivatives were classified as Level 2 of the fair value hierarchy. The fair values of our mortgage notes payable, senior unsecured notes (Series A, B, C, D, E, F, G and H), unsecured term loan facilities and unsecured revolving credit facility which are determined using Level 3 inputs are estimated by discounting the future cash flows using current interest rates at which similar borrowings could be made by us. The following tables summarize the carrying and estimated fair values of our financial instruments as of June 30, 2023 and December 31, 2022 (amounts in thousands): June 30, 2023 Estimated Fair Value Carrying Total Level 1 Level 2 Level 3 Interest rate swaps included in prepaid expenses and other assets $ 19,329 $ 19,329 $ — $ 19,329 $ — Interest rate swaps included in accounts payable and accrued expenses — — — — — Mortgage notes payable 880,592 765,621 — — 765,621 Senior unsecured notes - Series A, B, C, D, E, F, G and H 973,768 870,173 — — 870,173 Unsecured term loan facilities 389,028 390,000 — — 390,000 December 31, 2022 Estimated Fair Value Carrying Total Level 1 Level 2 Level 3 Interest rate swaps included in prepaid expenses and other assets $ 17,936 $ 17,936 $ — $ 17,936 $ — Mortgage notes payable 883,705 783,648 — — 783,648 Senior unsecured notes - Series A, B, C, D, E, F, G and H 973,659 865,292 — — 865,292 Unsecured term loan facilities 388,773 390,000 — — 390,000

Leases

Leases	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Leases	Leases Lessor We lease various spaces to tenants over terms ranging from one Rental revenue includes fixed and variable payments. Fixed payments primarily relate to base rent and variable payments primarily relate to tenant expense reimbursements for certain property operating costs. The components of rental revenue for the three and six months ended June 30, 2023 and 2022 are as follows (amounts in thousands): Three Months Ended Six Months Ended Rental revenue June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Fixed payments $ 138,318 $ 134,794 $ 262,882 $ 268,195 Variable payments 16,285 14,545 31,812 28,658 Total rental revenue $ 154,603 $ 149,339 $ 294,694 $ 296,853 As of June 30, 2023, we were entitled to the following future contractual minimum lease payments (excluding operating expense reimbursements) on non-cancellable operating leases to be received which expire on various dates through 2040 (amounts in thousands): Remainder of 2023 $ 246,802 2024 504,657 2025 484,668 2026 438,662 2027 419,474 Thereafter 1,963,143 $ 4,057,406 The above future minimum lease payments exclude tenant recoveries and the net accretion of above and below-market lease intangibles. Some leases are subject to termination options generally upon payment of a termination fee. The preceding table is prepared assuming such options are not exercised. On March 12, 2023, Signature Bank, a tenant at 1400 Broadway and 1333 Broadway, was closed by the New York State Department of Financial Services, which appointed the Federal Deposit Insurance Corporation (“FDIC”) as receiver. On March 20, 2023, Flagstar Bank, N.A. (“Flagstar”), a wholly owned subsidiary of New York Community Bancorp, Inc., assumed substantially all of the deposits and certain loan portfolios of Signature Bank. As of March 31, 2023, Flagstar had not yet assumed or rejected our leases, and our assessment of collectability of the remaining lease payments due to us in accordance with ASC 842-30-25-13 caused us to record a $6.4 million reserve on Signature Bank’s straight-line rent receivable balance. On May 18, 2023, Flagstar assumed the entire 313,109 square foot lease at 1400 Broadway under the same terms through 2039, with the exception of an approximate $3 per square foot reduction for the first five years of the lease amendment. As such, we reversed $5.8 million of the $6.4 million reserve taken in the first quarter of 2023 and resumed accounting for this tenant on a straight-line basis. On May 1, 2023, First Republic Bank, a tenant of 14,430 square feet of retail space in the base of One Grand Central Place was closed by the California Department of Financial Protection and Innovation and the FDIC was appointed as the receiver. JPMorgan Chase Bank, National Association agreed to assume all of the deposits and to purchase substantially all of the assets of First Republic Bank. The FDIC has until September 28, 2023 to assume or reject our lease at One Grand Central Place. Although this tenant is current on its rental obligations to us, as of June 30, 2023, we maintain a $0.2 million reserve on First Republic Bank’s straight-line rent receivable balance. Lessee We determine if an arrangement is a lease at inception. Our operating lease agreements relate to three ground lease assets and are reflected in right-of-use assets of $28.6 million and lease liabilities of $28.6 million in our condensed consolidated balance sheets as of June 30, 2023. Right-of-use assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Right-of-use assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. Variable lease payments are excluded from the right-of-use assets and lease liabilities and are recognized in the period in which the obligation for those payments is incurred. The ground leases are due to expire between the years 2050 and 2077, inclusive of extension options, and have no variable payments or residual value guarantees. As our leases do not provide an implicit rate, we determined our incremental borrowing rate based on information available at the date of adoption of Accounting Standards Update No. 2016-02, Leases (Topic 842), in determining the present value of lease payments. The weighted average incremental borrowing rate used to calculate the right-of-use assets and lease liabilities as of June 30, 2023 was 4.5%. Rent expense for lease payments related to our operating leases is recognized on a straight-line basis over the non-cancellable term of the leases. The weighted average remaining lease term as of June 30, 2023 was 46.9 years. As of June 30, 2023, the following table summarizes our future minimum lease payments discounted by our incremental borrowing rates to calculate the lease liabilities of our leases (amounts in thousands): Remainder of 2023 $ 759 2024 1,518 2025 1,518 2026 1,503 2027 1,482 Thereafter 62,277 Total undiscounted cash flows 69,057 Present value discount (40,503) Ground lease liabilities $ 28,554
Leases	Leases Lessor We lease various spaces to tenants over terms ranging from one Rental revenue includes fixed and variable payments. Fixed payments primarily relate to base rent and variable payments primarily relate to tenant expense reimbursements for certain property operating costs. The components of rental revenue for the three and six months ended June 30, 2023 and 2022 are as follows (amounts in thousands): Three Months Ended Six Months Ended Rental revenue June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Fixed payments $ 138,318 $ 134,794 $ 262,882 $ 268,195 Variable payments 16,285 14,545 31,812 28,658 Total rental revenue $ 154,603 $ 149,339 $ 294,694 $ 296,853 As of June 30, 2023, we were entitled to the following future contractual minimum lease payments (excluding operating expense reimbursements) on non-cancellable operating leases to be received which expire on various dates through 2040 (amounts in thousands): Remainder of 2023 $ 246,802 2024 504,657 2025 484,668 2026 438,662 2027 419,474 Thereafter 1,963,143 $ 4,057,406 The above future minimum lease payments exclude tenant recoveries and the net accretion of above and below-market lease intangibles. Some leases are subject to termination options generally upon payment of a termination fee. The preceding table is prepared assuming such options are not exercised. On March 12, 2023, Signature Bank, a tenant at 1400 Broadway and 1333 Broadway, was closed by the New York State Department of Financial Services, which appointed the Federal Deposit Insurance Corporation (“FDIC”) as receiver. On March 20, 2023, Flagstar Bank, N.A. (“Flagstar”), a wholly owned subsidiary of New York Community Bancorp, Inc., assumed substantially all of the deposits and certain loan portfolios of Signature Bank. As of March 31, 2023, Flagstar had not yet assumed or rejected our leases, and our assessment of collectability of the remaining lease payments due to us in accordance with ASC 842-30-25-13 caused us to record a $6.4 million reserve on Signature Bank’s straight-line rent receivable balance. On May 18, 2023, Flagstar assumed the entire 313,109 square foot lease at 1400 Broadway under the same terms through 2039, with the exception of an approximate $3 per square foot reduction for the first five years of the lease amendment. As such, we reversed $5.8 million of the $6.4 million reserve taken in the first quarter of 2023 and resumed accounting for this tenant on a straight-line basis. On May 1, 2023, First Republic Bank, a tenant of 14,430 square feet of retail space in the base of One Grand Central Place was closed by the California Department of Financial Protection and Innovation and the FDIC was appointed as the receiver. JPMorgan Chase Bank, National Association agreed to assume all of the deposits and to purchase substantially all of the assets of First Republic Bank. The FDIC has until September 28, 2023 to assume or reject our lease at One Grand Central Place. Although this tenant is current on its rental obligations to us, as of June 30, 2023, we maintain a $0.2 million reserve on First Republic Bank’s straight-line rent receivable balance. Lessee We determine if an arrangement is a lease at inception. Our operating lease agreements relate to three ground lease assets and are reflected in right-of-use assets of $28.6 million and lease liabilities of $28.6 million in our condensed consolidated balance sheets as of June 30, 2023. Right-of-use assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Right-of-use assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. Variable lease payments are excluded from the right-of-use assets and lease liabilities and are recognized in the period in which the obligation for those payments is incurred. The ground leases are due to expire between the years 2050 and 2077, inclusive of extension options, and have no variable payments or residual value guarantees. As our leases do not provide an implicit rate, we determined our incremental borrowing rate based on information available at the date of adoption of Accounting Standards Update No. 2016-02, Leases (Topic 842), in determining the present value of lease payments. The weighted average incremental borrowing rate used to calculate the right-of-use assets and lease liabilities as of June 30, 2023 was 4.5%. Rent expense for lease payments related to our operating leases is recognized on a straight-line basis over the non-cancellable term of the leases. The weighted average remaining lease term as of June 30, 2023 was 46.9 years. As of June 30, 2023, the following table summarizes our future minimum lease payments discounted by our incremental borrowing rates to calculate the lease liabilities of our leases (amounts in thousands): Remainder of 2023 $ 759 2024 1,518 2025 1,518 2026 1,503 2027 1,482 Thereafter 62,277 Total undiscounted cash flows 69,057 Present value discount (40,503) Ground lease liabilities $ 28,554

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Proceedings Except as described below, as of June 30, 2023, we were not involved in any material litigation, nor, to our knowledge, was any material litigation threatened against us or our properties, other than routine litigation arising in the ordinary course of business such as disputes with tenants. We believe that the costs and related liabilities, if any, which may result from such actions will not materially affect our condensed consolidated financial position, operating results or liquidity. As previously disclosed, in October 2014, 12 former investors (the "Claimants") in Empire State Building Associates L.L.C. (“ESBA”), which, prior to the IPO, owned the fee title to the Empire State Building, filed an arbitration claim with the American Arbitration Association against Peter L. Malkin, Anthony E. Malkin, Thomas N. Keltner, Jr., and our subsidiary ESRT MH Holdings LLC, the former supervisor of ESBA (the "Respondent s "). The Statement of Claim (also filed later in federal court in New York for the expressed purpose of tolling the statute of limitations) alleged breach of fiduciary duty and related claims in connection with the IPO and formation transactions and sought monetary damages and declaratory relief. The Claimants had opted out of a prior class action bringing similar claims that were settled with court approval. The Respondents filed an answer and counterclaims. In March 2015, the federal court action was stayed on consent of all parties pending the arbitration. Arbitration hearings started in May 2016 and concluded in August 2018. On August 26, 2020, the arbitration panel issued an award that denied all Claimants’ claims with one exception, on which it awarded the Claimants approximately $1.2 million, inclusive of seven years of interest through October 2, 2020. This amount was recorded as an IPO litigation expense in the consolidated statements of operations for the year ended December 31, 2020.The Respondents believe that such award in favor of the Claimants is entirely without merit and, in an action filed in the United States District Court for the Southern District of New York, sought to vacate that portion of the award. On September 27, 2021, the court denied the Respondents' motion to vacate and entered judgement in the aforementioned amount, inclusive of accumulated interest. The Respondents have appealed that ruling. On May 10, 2022, the Respondents moved to dismiss the appeal and judgment on the grounds that a recent decision of the United States Supreme Court held that the federal courts have no subject matter jurisdiction over the case. The Claimants opposed the motion. On April 20, 2023, the federal appeals court granted the motion and the federal court action challenging the award was dismissed. On April 21, 2023, the Respondents filed a petition to vacate in part and otherwise confirm in New York State court. On April 28, 2023, the Claimants filed a motion to confirm in that same court.. On July 31, 2023, the New York State court denied the Respondents’ petition to vacate in part and confirmed the award. The Respondents believe that ruling is incorrect and are considering their options with respect thereto. In addition, certain of the Claimants in the federal court action sought to pursue claims in that case against the Respondents. The Respondents believe that any such claims are meritless. The magistrate judge assigned to the action has issued a Report and Recommendation rejecting the Claimants’ claims; the district judge will decide whether to adopt the Report and Recommendation. Pursuant to indemnification agreements which were made with our directors, executive officers and chairman emeritus as part of our formation transactions, Anthony E. Malkin, Peter L. Malkin and Thomas N. Keltner, Jr., our former general counsel, have defense and indemnity rights from us with respect to this arbitration. Unfunded Capital Expenditures At June 30, 2023, we estimate that we will incur approximately $138.4 million of capital expenditures (including tenant improvements and leasing commissions) on our properties pursuant to existing lease agreements. We expect to fund these capital expenditures with operating cash flow, additional property level mortgage financings, our unsecured credit facility, cash on hand and other borrowings. Future property acquisitions may require substantial capital investments for refurbishment and leasing costs. We expect that these financing requirements will be met in a similar fashion. Concentration of Credit Risk Financial instruments that subject us to credit risk consist primarily of cash and cash equivalents, restricted cash, short-term investments, tenant and other receivables and deferred rent receivables. At June 30, 2023, we held on deposit at various major financial institutions cash and cash equivalents and restricted cash balances in excess of amounts insured by the FDIC. Asset Retirement Obligations We are required to accrue costs that we are legally obligated to incur on retirement of our properties which result from acquisition, construction, development and/or normal operation of such properties. Retirement includes sale, abandonment or disposal of a property. Under that standard, a conditional asset retirement obligation represents a legal obligation to perform an asset retirement activity in which the timing and/or method of settlement is conditional on a future event that may or may not be within a company’s control and a liability for a conditional asset retirement obligation must be recorded if the fair value of the obligation can be reasonably estimated. Environmental site assessments and investigations have identified asbestos or asbestos-containing building materials in certain of our properties. As of June 30, 2023, management has no plans to remove or alter these properties in a manner that would trigger federal and other applicable regulations for asbestos removal, and accordingly, the obligations to remove the asbestos or asbestos-containing building materials from these properties have indeterminable settlement dates. As such, we are unable to reasonably estimate the fair value of the associated conditional asset retirement obligation. However, ongoing asbestos abatement, maintenance programs and other required documentation are carried out as required and related costs are expensed as incurred. Other Environmental Matters Certain of our properties have been inspected for soil contamination due to pollutants, which may have occurred prior to our ownership of these properties or subsequently in connection with its development and/or its use. Required remediation to such properties has been completed, other than our post-closing obligations for remediation at our previously owned Westport retail assets, as discussed in more detail in our Annual Report, and at our previously owned 500 Mamaroneck property as discussed in “Financial Statements - Note 3. Acquisitions and Dispositions.” As of June 30, 2023, with the exception of these three assets, management believes that there are no obligations related to environmental remediation other than maintaining the affected sites in conformity with the relevant authority’s mandates and filing the required documents. All such maintenance costs are expensed as incurred. We expect that resolution of the environmental matters relating to the above will not have a material impact on our business, assets, consolidated financial condition, results of operations or liquidity. However, we cannot be certain that we have identified all environmental liabilities at our properties, that all necessary remediation actions have been or will be undertaken at our properties or that we will be indemnified, in full or at all, in the event that such environmental liabilities arise. Insurance Coverage

Capital

Capital	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Capital	Capital As of June 30, 2023, there were 159,842,614 shares of Class A common stock, 988,180 shares of Class B common stock and 110,086,858 operating partnership units outstanding. The controlling interest of 59.4% is owned by ESRT and the remaining 40.6% noncontrolling interest in the OP is owned by other limited partners, including ESRT directors, members of senior management and other employees. ESRT has two classes of common stock as a means to give its OP Unit holders voting rights in the public company that correspond to their economic interest in the combined entity. A one-time option was created at our formation transactions for any pre-IPO OP Unit holder to exchange one OP Unit out of every 50 OP Units they owned for one Class B share, and such Class B share carries 50 votes. On May 16, 2019, our shareholders approved the Empire State Realty Trust, Inc. Empire State Realty OP, L.P. 2019 Equity Incentive Plan (the “2019 Plan”) and replaced the First Amended and Restated Empire State Realty Trust, Inc. and Empire State Realty OP, L.P. 2013 Equity Incentive Plan ("2013 Plan", and collectively with the 2019 Plan, the "Plans"). The 2019 Plan provides for grants to directors, employees and consultants of ESRT and the Operating Partnership, including options, restricted stock, restricted stock units, stock appreciation rights, performance awards, dividend equivalents and other equity-based awards. An aggregate of approximately 11.0 million shares of ESRT common stock are authorized for issuance under awards granted pursuant to the 2019 Plan. We will not issue any new equity awards under the 2013 Plan. The shares of ESRT Class A common stock underlying any awards under the Plans that are forfeited, canceled or otherwise terminated, other than by exercise, will be added back to the shares of ESRT Class A common stock available for issuance under the 2019 Plan. Shares tendered or held back upon exercise of a stock option or settlement of an award under the Plans to cover the exercise price or tax withholding and shares subject to a stock appreciation right that are not issued in connection with the stock settlement of the stock appreciation right upon exercise thereof, will not be added back to the shares of ESRT Class A common stock available for issuance under the 2019 Plan. In addition, shares of ESRT Class A common stock repurchased on the open market will not be added back to the shares of ESRT Class A common stock available for issuance under the 2019 Plan. Long-term incentive plan ("LTIP") units are a special class of partnership interests. Each LTIP unit awarded will be deemed equivalent to an award of one share of ESRT stock under the Plans, reducing the availability for other equity awards on a one-for-one basis. The vesting period for LTIP units, if any, will be determined at the time of issuance. Under the terms of the LTIP units, we will revalue for tax purposes its assets upon the occurrence of certain specified capital events, and any increase in valuation from the time of one such event to the next such event will be allocated first to the holders of LTIP units to equalize the capital accounts of such holders with the capital accounts of unitholders. Subject to any agreed upon exceptions, once vested and having achieved parity with unitholders, LTIP units are convertible into Series PR operating partnership units on a one-for-one basis. LTIP units subject to time-based vesting, whether vested or not, receive per unit distributions as operating partnership units, which equal per share dividends (both regular and special) on our common stock. Market and performance-based LTIPs receive 10% of such distributions currently, unless and until such LTIP units are earned based on performance, at which time they will receive the accrued and unpaid 90% and will commence receiving 100% of such distributions thereafter. Stock and Publicly Traded Operating Partnership Unit Repurchase Program ESRT's Board of Directors authorized the repurchase of up to $500 million of ESRT Class A common stock and the Operating Partnership’s Series ES, Series 250 and Series 60 operating partnership units from January 1, 2022 through December 31, 2023. Under the program, ESRT may purchase ESRT Class A common stock and we may purchase our Series ES, Series 250 and Series 60 operating partnership units in accordance with applicable securities laws from time to time in the open market or in privately negotiated transactions. The timing, manner, price and amount of any repurchases will be determined by ESRT and us and will be subject to stock price, availability, trading volume, general market conditions, and applicable securities laws. The authorization does not obligate ESRT or us to acquire any particular amount of securities, and the program may be suspended or discontinued at ESRT and our discretion without prior notice. The following table summarizes ESRT's purchases of equity securities in each of the three months ended June 30, 2023: Period Total Number of Shares Purchased Weighted Average Price Paid per Share Maximum Approximate Dollar Value Available for Future Purchase (in thousands) April 1 - April 30, 2023 1,214,770 $ 6.09 $ 396,736 May 1 - May 31, 2023 2,700 $ 6.00 $ 396,720 June 1 - June 30, 2023 — $ — $ 396,720 Private Perpetual Preferred Units As of June 30, 2023, there were 4,664,038 Series 2019 Preferred Units ("Series 2019 Preferred Units") and 1,560,360 Series 2014 Private Perpetual Preferred Units ("Series 2014 Preferred Units") outstanding. The Series 2019 Preferred Units have a liquidation preference of $13.52 per unit and are entitled to receive cumulative preferential annual cash distributions of $0.70 per unit payable in arrears on a quarterly basis. The Series 2014 Preferred Units which have a liquidation preference of $16.62 per unit and are entitled to receive cumulative preferential annual cash distributions of $0.60 per unit payable in arrears on a quarterly basis. Both series are not redeemable at the option of the holders and are redeemable at our option only in the case of specific defined events. Distributions Total distributions paid to OP unitholders were $9.5 million and $18.2 million for the three and six months ended June 30, 2023, respectively, and $9.7 million and $19.5 million for the three and six months ended June 30, 2022, respectively. Total distributions paid to preferred unitholders were $1.1 million and $2.1 million for the three and six months ended June 30, 2023, respectively, and $1.1 million and $2.1 million for the three and six months ended June 30, 2022, respectively. Incentive and Share-Based Compensation The Plans provide for grants to directors, employees and consultants consisting of stock options, restricted stock, dividend equivalents, stock payments, performance shares, LTIP units, stock appreciation rights and other incentive awards. An aggregate of 11.0 million shares of ESRT common stock is authorized for issuance under awards granted pursuant to the 2019 Plan, and as of June 30, 2023, 4.2 million shares of ESRT common stock remain available for future issuance. Annually, we make grants of LTIP units to our non-employee directors under the 2019 Plan. In May 2023, each of our directors received 60% of their $200,000 annual base retainer in the form of equity vesting ratably over four years, and could elect to receive the remaining 40% of such base retainer in (i) cash at the face value of the award, (ii) immediately vesting equity at the face value of the award, or (iii) equity vesting ratably over three years at 120% of the face amount. Each director could elect to receive any equity portion of the base retainer in either (i) LTIP units or (ii) restricted shares of our Class A common stock. In accordance with each director's election, in May 2023, we granted a total of 237,856 LTIP units that are subject to time-based vesting with fair market values of $1.2 million. The LTIP units vest ratably over three Share-based compensation for time-based equity awards is measured at the fair value of the award on the date of grant and recognized as an expense on a straight-line basis over the shorter of (i) the stated vesting period, which is generally three four three For the market-based LTIP units, the fair value of the awards was estimated using a Monte Carlo Simulation model and discounted for the restriction period during which the LTIP units cannot be redeemed or transferred and the uncertainty regarding if, and when, the book capital account of the LTIP units will equal that of the common units. Our stock price, along with the prices of the comparative indexes, is assumed to follow the Geometric Brownian Motion Process. Geometric Brownian Motion is a common assumption when modeling in financial markets, as it allows the modeled quantity (in this case the stock price) to vary randomly from its current value and take any value greater than zero. The volatilities of the returns on our stock price and the comparative indexes were estimated based on implied volatilities and historical volatilities using an appropriate look-back period. The expected growth rate of the stock prices over the performance period is determined with consideration of the risk-free rate as of the grant date. For LTIP unit awards that are time or performance based, the fair value of the awards was estimated based on the fair value of our stock at the grant date discounted for the restriction period during which the LTIP units cannot be redeemed or transferred and the uncertainty regarding if, and when, the book capital account of the LTIP units will equal that of the common units. For restricted stock awards, the fair value of the awards is based on the market price of ESRT stock at the grant date. LTIP units and ESRT restricted stock issued during the six months ended June 30, 2023 were valued at $21.4 million. The weighted average per unit or share fair value was $5.65 for grants issued for the six months ended June 30, 2023. The fair value per unit or share granted in 2023 was estimated on the respective dates of grant using the following assumptions: an expected life from 2.0 to 5.3 years, a dividend rate of 1.7%, a risk-free interest rate from 4.4% to 5.0%, and an expected price volatility from 35.0% to 46.0%. No other stock options, dividend equivalents, or stock appreciation rights were issued or outstanding as of June 30, 2023. The following is a summary of ESRT restricted stock and LTIP unit activity for the six months ended June 30, 2023: Restricted Stock Time-based LTIPs Market-based LTIPs Performance-based LTIPs Weighted Average Grant Fair Value Unvested balance at December 31, 2022 359,293 2,713,522 4,070,537 510,989 $ 6.69 Vested (106,910) (1,146,682) (311,815) (1,222) 7.66 Granted 370,465 1,693,689 946,398 771,180 5.65 Forfeited or unearned (8,413) — (1,692,910) (2,751) 4.29 Unvested balance at June 30, 2023 614,435 3,260,529 3,012,210 1,278,196 $ 6.52 The time-based LTIPs and ESRT restricted stock awards are treated for accounting purposes as immediately vested upon the later of (i) the date the grantee attains the age of 60 or 65, as applicable, and (ii) the date on which grantee has first completed ten years of continuous service with our Company or its affiliates. For award agreements that qualify, we recognize noncash compensation expense on the grant date for the time-based awards and ratably over the vesting period for the market-based and performance-based awards, and accordingly, we recognized $1.0 million and $1.7 million for the three and six months ended June 30, 2023, respectively, and $0.6 million and $1.6 million for the three and six months ended June 30, 2022, respectively. Unrecognized compensation expense was $3.9 million at June 30, 2023, which will be recognized over a weighted average period of 2.6 years. For the remainder of the LTIP unit and ESRT restricted stock awards, we recognize noncash compensation expense ratably over the vesting period, and accordingly, we recognized noncash compensation expense of $4.4 million and $8.1 million for the three and six months ended June 30, 2023, respectively, and $5.4 million and $8.9 million for the three and six months ended June 30, 2022, respectively. Unrecognized compensation expense was $32.3 million at June 30, 2023, which will be recognized over a weighted average period of 2.7 years. Earnings Per Unit Earnings per unit for the three and six months ended June 30, 2023 and 2022 is computed as follows (amounts in thousands, except per share amounts): Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Numerator: Net income $ 36,955 $ 48,695 $ 48,649 $ 31,474 Private perpetual preferred unit distributions (1,051) (1,051) (2,101) (2,101) Net (income) loss attributable to non-controlling interests in other partnerships (1) 159 42 222 Earnings allocated to unvested units — (670) — (759) Net income attributable to common unitholders – basic and diluted $ 35,903 $ 47,133 $ 46,590 $ 28,836 Denominator: Weighted average units outstanding – basic 262,903 270,078 263,694 271,834 Effect of dilutive securities: Stock-based compensation plans 1,293 7 1,042 3 Weighted average units outstanding –- diluted 264,196 270,085 264,736 271,837 Earnings per share: Basic $ 0.14 $ 0.17 $ 0.18 $ 0.11 Diluted $ 0.14 $ 0.17 $ 0.18 $ 0.11 There were zero antidilutive shares and LTIP units for the three and six months ended June 30, 2023, respectively, and 603 and 398 antidilutive shares and LTIP units for the three and six months ended June 30, 2022, respectively.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Supervisory Fee Revenue We earned supervisory fees from entities affiliated with Anthony E. Malkin, our Chairman, President and Chief Executive Officer, of $0.3 million and $0.5 million for the three and six months ended June 30, 2023, respectively, and $0.3 million and $0.5 million for the three and six months ended June 30, 2022, respectively. These fees are included within third-party management and other fees. Property Management Fee Revenue We earned property management fees from entities affiliated with Anthony E. Malkin of $0.05 million and $0.2 million for the three and six months ended June 30, 2023, respectively, and $0.1 million and $0.1 million for the three and six months ended June 30, 2022, respectively. These fees are included within third-party management and other fees. Other We receive rent generally at the market rental rate for 5,447 square feet of leased space from entities affiliated with Anthony E. Malkin at one of our properties. Under the lease, the tenant has the right to cancel such lease without special payment on 90 days’ notice. We also have a shared use agreement with such tenant, to occupy a portion of the leased premises as the office location for Peter L. Malkin, our chairman emeritus and employee, utilizing approximately 15% of the space, for which we pay to such tenant an allocable pro rata share of the cost. We also have agreements with these entities and excluded properties and businesses to provide them with general computer-related support services. Total aggregate revenue was $0.1 million and $0.2 million for the three and six months ended June 30, 2023, respectively, and $0.1 million and $0.2 million for the three and six months ended June 30, 2022, respectively. As disclosed in greater detail in our Annual Report, in connection with the sale of our Westport retail assets in February 2023, we advanced a loan to the buyer to facilitate closing with a principal amount of $0.6 million, which bears interest at SOFR plus 3.5% and requires repayment of principal to the extent of available cash flow of the property. As of June 30, 2023, the amount outstanding under the loan is $0.1 million.

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting We have identified two reportable segments: (1) real estate and (2) observatory. Our real estate segment includes all activities related to the ownership, management, operation, acquisition, redevelopment, repositioning and disposition of our traditional real estate assets. Our observatory segment includes the operation of the 86th and 102nd floor observatories at the Empire State Building. These two lines of businesses are managed separately because each business requires different support infrastructures, provides different services and has dissimilar economic characteristics such as investments needed, stream of revenues and marketing strategies. We account for intersegment sales and rents as if the sales or rents were to third parties, that is, at current market prices. The following tables provide components of segment net income (loss) for each segment for the three and six months ended June 30, 2023 and 2022 (amounts in thousands): Three Months Ended June 30, 2023 Real Estate Observatory Intersegment Elimination Total Revenues: Rental revenue $ 154,603 $ — $ — $ 154,603 Intercompany rental revenue 20,942 — (20,942) — Observatory revenue — 33,433 — 33,433 Third-party management and other fees 381 — — 381 Other revenue and fees 2,125 — — 2,125 Total revenues 178,051 33,433 (20,942) 190,542 Operating expenses: Property operating expenses 39,519 — — 39,519 Intercompany rent expense — 20,942 (20,942) — Ground rent expenses 2,332 — — 2,332 General and administrative expenses 16,075 — — 16,075 Observatory expenses — 8,657 — 8,657 Real estate taxes 31,490 — — 31,490 Depreciation and amortization 46,237 43 — 46,280 Total operating expenses 135,653 29,642 (20,942) 144,353 Total operating income 42,398 3,791 — 46,189 Other income (expense): Interest income 3,289 50 — 3,339 Interest expense (25,405) — — (25,405) Gain on disposition of property 13,565 — — 13,565 Income before income taxes 33,847 3,841 — 37,688 Income tax expense (197) (536) — (733) Net income $ 33,650 $ 3,305 $ — $ 36,955 Segment assets $ 3,928,943 $ 255,825 $ — $ 4,184,768 Expenditures for segment assets $ 32,908 $ — $ — $ 32,908 Three Months Ended June 30, 2022 Real Estate Observatory Intersegment Elimination Total Revenues: Rental revenue $ 149,339 $ — $ — $ 149,339 Intercompany rental revenue 17,109 — (17,109) — Observatory revenue — 27,368 — 27,368 Lease termination fees 18,859 — — 18,859 Third-party management and other fees 326 — — 326 Other revenue and fees 2,130 — — 2,130 Total revenues 187,763 27,368 (17,109) 198,022 Operating expenses: Property operating expenses 37,433 — — 37,433 Intercompany rent expense — 17,109 (17,109) — Ground rent expense 2,332 — — 2,332 General and administrative expenses 15,876 — — 15,876 Observatory expenses — 7,776 — 7,776 Real estate taxes 29,802 — — 29,802 Depreciation and amortization 58,254 50 — 58,304 Total operating expenses 143,697 24,935 (17,109) 151,523 Total operating income 44,066 2,433 — 46,499 Other income (expense): Interest income 426 5 — 431 Interest expense (25,042) — — (25,042) Gain on disposition of property 27,170 — — 27,170 Income before income taxes 46,620 2,438 — 49,058 Income tax expense (38) (325) — (363) Net income $ 46,582 $ 2,113 $ — $ 48,695 Segment assets $ 3,969,257 $ 247,974 $ — $ 4,217,231 Expenditures for segment assets $ 13,115 $ — $ — $ 13,115 Six Months June 30, 2023 Real Estate Observatory Intersegment Elimination Total Revenues: Rental revenue 294,694 — — $ 294,694 Intercompany rental revenue 36,856 — (36,856) — Observatory revenue — 55,587 — 55,587 Third-party management and other fees 808 — — 808 Other revenue and fees 4,075 — — 4,075 Total revenues 336,433 55,587 (36,856) 355,164 Operating expenses: Property operating expenses 81,563 — — 81,563 Intercompany rent expense — 36,856 (36,856) — Ground rent expenses 4,663 — — 4,663 General and administrative expenses 31,783 — — 31,783 Observatory expenses — 16,512 — 16,512 Real estate taxes 63,278 — — 63,278 Depreciation and amortization 93,601 87 — 93,688 Total operating expenses 274,888 53,455 (36,856) 291,487 Total operating income 61,545 2,132 — 63,677 Other income (expense): Interest income 5,847 87 — 5,934 Interest expense (50,709) — — (50,709) Gain on disposition of property 29,261 — — 29,261 Income before income taxes 45,944 2,219 — 48,163 Income tax (expense) benefit (395) 881 — 486 Net income $ 45,549 $ 3,100 $ — $ 48,649 Expenditures for segment assets 35,576 58 — $ 35,634 Six Months June 30, 2022 Real Estate Observatory Intersegment Elimination Total Revenues: Rental revenue 296,853 — — $ 296,853 Intercompany rental revenue 27,729 — (27,729) — Observatory revenue — 40,609 — 40,609 Lease termination fees 20,032 — — 20,032 Third-party management and other fees 636 — — 636 Other revenue and fees 3,926 — — 3,926 Total revenues 349,176 40,609 (27,729) 362,056 Operating expenses: Property operating expenses 76,077 — — 76,077 Intercompany rent expense — 27,729 (27,729) — Ground rent expenses 4,663 — — 4,663 General and administrative expenses 29,562 — — 29,562 Observatory expenses — 13,991 — 13,991 Real estate taxes 59,806 — — 59,806 Depreciation and amortization 125,325 85 — 125,410 Total operating expenses 295,433 41,805 (27,729) 309,509 Total operating income (loss) 53,743 (1,196) — 52,547 Other income (expense): Interest income 575 5 — 580 Interest expense (50,056) — — (50,056) Gain on disposition of property 27,170 — — 27,170 Income (loss) before income taxes 31,432 (1,191) — 30,241 Income tax (expense) benefit (182) 1,415 — 1,233 Net income $ 31,250 $ 224 $ — $ 31,474 Expenditures for segment assets 51,999 291 — $ 52,290

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events None.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of Quarterly Presentation	The accompanying unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP"), for interim financial information, and with the rules and regulations of the Securities and Exchange Commission (the "SEC"). Accordingly, certain information and footnote disclosures required by GAAP for complete financial statements have been condensed or omitted in accordance with such rules and regulations. In the opinion of management, all adjustments and eliminations (including intercompany balances and transactions), consisting of normal recurring adjustments, considered necessary for the fair presentation of the financial statements have been included.
Principles of Consolidation	The results of operations for the periods presented are not necessarily indicative of the results that may be expected for the corresponding full years. These financial statements should be read in conjunction with the financial statements and accompanying notes included in the financial statements for the year ended December 31, 2022 contained in our Annual Report. Our observatory business is subject to seasonality based on tourism trends and the weather.
Principles of Consolidation for Variable Interest Entities	We consolidate entities in which we have a controlling financial interest.  In determining whether we have a controlling financial interest in a partially owned entity and the requirement to consolidate the accounts of that entity, we consider factors such as ownership interest, board representation, management representation, authority to make decisions, and contractual and substantive participating rights of the partners/members.  For variable interest entities ("VIE"), we consolidate the entity if we are deemed to have a variable interest in the entity and through that interest we are deemed the primary beneficiary. The primary beneficiary of a VIE is the entity that has (i) the power to direct the activities that most significantly impact the entity's economic performance and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could be significant to the VIE. The primary beneficiary is required to consolidate the VIE. At December 31, 2022, we were the primary beneficiary of a variable interest in the intermediary entity which held title to 298 Mulberry, the multifamily asset acquired in December 2022. The intermediary entity was utilized to execute a like-kind exchange and subsequent to March 31, 2023, the like-kind exchange was completed and we took title to 298 Mulberry. Therefore,we had no VIEs at June 30, 2023.    We will assess the accounting treatment for each investment we may have in the future. This assessment will include a review of each entity’s organizational agreement to determine which party has what rights and whether those rights are protective or participating. For all VIEs, we will review such agreements in order to determine which party has the power to direct the activities that most significantly impact the entity’s economic performance and benefit. In situations where we or our partner could approve, among other things, the annual budget, or leases that cover more than a nominal amount of space relative to the total rentable space at each property, we would not consolidate the investment as we consider these to be substantive participation rights that result in shared power of the activities that would most significantly impact the performance and benefit of such joint venture investment.     A non-controlling interest in a consolidated subsidiary is defined as the portion of the equity (net assets) in a subsidiary not attributable, directly or indirectly, to a parent. Non-controlling interests are required to be presented as a separate component of equity in the condensed consolidated balance sheets and in the condensed consolidated statements of operations by requiring earnings and other comprehensive income to be attributed to controlling and non-controlling interests.
Accounting Estimates	The preparation of the condensed consolidated financial statements in accordance with GAAP requires management to use estimates and assumptions that in certain circumstances affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenues and expenses. Significant items subject to such estimates and assumptions include allocation of the purchase price of acquired real estate properties among tangible and intangible assets, determination of the useful life of real estate properties and other long-lived assets, valuation and impairment analysis of commercial real estate properties, right of use assets and other long-lived and indefinite-lived assets, estimate of tenant expense reimbursements, valuation of the allowance for doubtful accounts, and valuation of derivative instruments, ground lease liabilities, senior unsecured notes, mortgage notes payable, unsecured term loan and revolving credit facilities, and equity-based compensation. These estimates are prepared using management’s best judgment, after considering past, current, and expected events and economic conditions. Actual results could differ from those estimates.
Fair Valuation	The estimated fair values at June 30, 2023 and December 31, 2022 were determined by management, using available market information and appropriate valuation methodologies. Considerable judgment is necessary to interpret market data and develop estimated fair value. Accordingly, the estimates presented herein are not necessarily indicative of the amounts we could realize on disposition of the financial instruments. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts.     The fair value of derivative instruments is determined using widely accepted valuation techniques, including discounted cash flow analysis on the expected cash flows of each derivative. Although the majority of the inputs used to value our derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with our derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by ourselves and our counterparties. The impact of such credit valuation adjustments, determined based on the fair value of each individual contract, was not significant to the overall valuation. As a result, all our derivatives were classified as Level 2 of the fair value hierarchy.    The fair values of our mortgage notes payable, senior unsecured notes (Series A, B, C, D, E, F, G and H), unsecured term loan facilities and unsecured revolving credit facility which are determined using Level 3 inputs are estimated by discounting the future cash flows using current interest rates at which similar borrowings could be made by us.

Deferred Costs, Acquired Leas_2

Deferred Costs, Acquired Lease Intangibles and Goodwill (Tables)	6 Months Ended
	Jun. 30, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Deferred Costs, Net	Deferred costs, net, consisted of the following as of June 30, 2023 and December 31, 2022 (amounts in thousands): June 30, 2023 December 31, 2022 Leasing costs $ 219,404 $ 218,707 Acquired in-place lease value and deferred leasing costs 159,356 160,683 Acquired above-market leases 25,880 27,833 404,640 407,223 Less: accumulated amortization (231,886) (223,246) Total deferred costs, net, excluding net deferred financing costs $ 172,754 $ 183,977 June 30, 2023 December 31, 2022 Financing costs $ 43,473 $ 43,473 Less: accumulated amortization (28,931) (26,753) Total deferred financing costs, net $ 14,542 $ 16,720
Schedule of Amortizing Acquired Intangible Assets and Liabilities	Amortizing acquired intangible assets and liabilities consisted of the following as of June 30, 2023 and December 31, 2022 (amounts in thousands): June 30, 2023 December 31, 2022 Acquired below-market ground leases $ 396,916 $ 396,916 Less: accumulated amortization (71,759) (67,843) Acquired below-market ground leases, net $ 325,157 $ 329,073 June 30, 2023 December 31, 2022 Acquired below-market leases $ (63,831) $ (64,656) Less: accumulated amortization 48,551 46,807 Acquired below-market leases, net $ (15,280) $ (17,849)

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Debt consisted of the following as of June 30, 2023 and December 31, 2022 (amounts in thousands): Principal Balance As of June 30, 2023 June 30, 2023 December 31, 2022 Stated Effective (1) Maturity (2) Mortgage debt collateralized by: Fixed rate mortgage debt Metro Center $ 81,344 $ 82,596 3.59 % 3.67 % 11/5/2024 10 Union Square 50,000 50,000 3.70 % 3.97 % 4/1/2026 1542 Third Avenue 30,000 30,000 4.29 % 4.53 % 5/1/2027 First Stamford Place (3) 177,347 178,823 4.28 % 4.73 % 7/1/2027 1010 Third Avenue and 77 West 55th Street 35,399 35,831 4.01 % 4.21 % 1/5/2028 250 West 57th Street 180,000 180,000 2.83 % 3.21 % 12/1/2030 1333 Broadway 160,000 160,000 4.21 % 4.29 % 2/5/2033 345 East 94th Street - Series A (5) 43,600 43,600 70.0% of SOFR plus 0.95% 3.56 % 11/1/2030 345 East 94th Street - Series B (5) 7,544 7,865 SOFR plus 2.24% 3.56 % 11/1/2030 561 10th Avenue - Series A (5) 114,500 114,500 70.0% of SOFR plus 1.07% 3.85 % 11/1/2033 561 10th Avenue - Series B (5) 16,627 17,415 SOFR plus 2.45% 3.85 % 11/1/2033 Total mortgage debt 896,361 900,630 Senior unsecured notes: (4) Series A 100,000 100,000 3.93 % 3.96 % 3/27/2025 Series B 125,000 125,000 4.09 % 4.12 % 3/27/2027 Series C 125,000 125,000 4.18 % 4.21 % 3/27/2030 Series D 115,000 115,000 4.08 % 4.11 % 1/22/2028 Series E 160,000 160,000 4.26 % 4.27 % 3/22/2030 Series F 175,000 175,000 4.44 % 4.45 % 3/22/2033 Series G 100,000 100,000 3.61 % 4.89 % 3/17/2032 Series H 75,000 75,000 3.73 % 5.00 % 3/17/2035 Unsecured term loan facility (4) 215,000 215,000 SOFR plus 1.20% 4.22 % 3/19/2025 Unsecured revolving credit facility (4) — — SOFR plus 1.30% — 3/31/2025 Unsecured term loan facility (4) 175,000 175,000 SOFR plus 1.50% 4.51 % 12/31/2026 Total principal 2,261,361 2,265,630 Deferred financing costs, net (10,619) (11,748) Unamortized debt discount (7,354) (7,745) Total $ 2,243,388 $ 2,246,137 ______________ (1) The effective rate is the yield as of June 30, 2023 and includes the stated interest rate, deferred financing cost amortization and interest associated with variable to fixed interest rate swap agreements. (2) Pre-payment is generally allowed for each loan upon payment of a customary pre-payment penalty. (3) Represents a $164 million mortgage loan bearing interest at 4.09% and a $13.3 million loan bearing interest at 6.25%. (4) At June 30, 2023, we were in compliance with all debt covenants. (5) As of May 18, 2023, the benchmark index rate was converted from LIBOR to SOFR, plus a benchmark adjustment of 11.4 basis points.
Schedule of Aggregate Required Principal Payments	Aggregate required principal payments at June 30, 2023 are as follows (amounts in thousands): Year Amortization Maturities Total 2023 $ 4,363 $ — $ 4,363 2024 8,861 77,675 86,536 2025 6,893 315,000 321,893 2026 7,330 225,000 232,330 2027 6,461 319,000 325,461 Thereafter 22,079 1,268,699 1,290,778 Total $ 55,987 $ 2,205,374 $ 2,261,361
Schedule of Deferred Costs, Net	Deferred costs, net, consisted of the following as of June 30, 2023 and December 31, 2022 (amounts in thousands): June 30, 2023 December 31, 2022 Leasing costs $ 219,404 $ 218,707 Acquired in-place lease value and deferred leasing costs 159,356 160,683 Acquired above-market leases 25,880 27,833 404,640 407,223 Less: accumulated amortization (231,886) (223,246) Total deferred costs, net, excluding net deferred financing costs $ 172,754 $ 183,977 June 30, 2023 December 31, 2022 Financing costs $ 43,473 $ 43,473 Less: accumulated amortization (28,931) (26,753) Total deferred financing costs, net $ 14,542 $ 16,720

Accounts Payable and Accrued _2

Accounts Payable and Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Schedule of Accounts Payable and Accrued Expenses	Accounts payable and accrued expenses consisted of the following as of June 30, 2023 and December 31, 2022 (amounts in thousands): June 30, 2023 December 31, 2022 Accrued capital expenditures $ 38,677 $ 44,293 Accounts payable and accrued expenses 29,468 32,927 Accrued interest payable 3,564 3,509 Total accounts payable and accrued expenses $ 71,709 $ 80,729

Financial Instruments and Fai_2

Financial Instruments and Fair Values (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of the Terms of Agreements and the Fair Value of Derivative Financial Instruments	The table below summarizes the terms of agreements and the fair values of our derivative financial instruments as of June 30, 2023 and December 31, 2022 (amounts in thousands): June 30, 2023 December 31, 2022 Derivative Notional Amount Receive Rate Pay Rate Effective Date Expiration Date Asset Liability Asset Liability Interest rate swap $ 36,820 70% of 1 Month SOFR 2.5000% December 1, 2021 November 1, 2030 $ 364 $ — $ 256 $ — Interest rate swap 103,790 70% of 1 Month SOFR 2.5000% December 1, 2021 November 1, 2033 375 — 365 — Interest rate swap 10,710 70% of 1 Month SOFR 1.7570% December 1, 2021 November 1, 2033 626 — 643 — Interest rate swap 16,761 1 Month SOFR 2.2540% December 1, 2021 November 1, 2030 1,067 — 1,070 — Interest rate cap 6,780 70% of 1 Month SOFR 4.5000% December 1, 2021 October 1, 2024 4 — 8 — Interest rate cap 9,188 1 Month SOFR 5.5000% December 1, 2021 October 1, 2024 28 — 26 — Interest rate swap 175,000 SOFR Compound 2.5620% August 31, 2022 December 31, 2026 8,961 — 8,040 — Interest rate swap 107,500 SOFR Compound 2.6260% August 19, 2022 March 19, 2025 3,967 — 3,766 — Interest rate swap 107,500 SOFR OIS Compound 2.6280% August 19, 2022 March 19, 2025 3,969 — 3,762 — $ 19,361 $ — $ 17,936 $ —
Schedule of Effect of Derivative Financial Instruments Designated as Cash Flow Hedges on Accumulated Other Comprehensive Income (Loss)	The table below shows the effect of our derivative financial instruments designated as cash flow hedges on accumulated other comprehensive income (loss) for the three and six months ended June 30, 2023 and 2022 (amounts in thousands): Three Months Ended Six Months Ended Effects of Cash Flow Hedges June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Amount of gain (loss) recognized in other comprehensive income (loss) $ 11,935 $ 10,057 $ 6,533 $ 19,819 Amount of loss reclassified from accumulated other comprehensive income (loss) into interest expense 1,882 (2,741) 3,154 (6,036) The table below shows the effect of our derivative financial instruments designated as cash flow hedges on the condensed consolidated statements of operations for the three and six months ended June 30, 2023 and 2022 (amounts in thousands): Three Months Ended Six Months Ended Effects of Cash Flow Hedges June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Total interest expense presented in the condensed consolidated statements of operations in which the effects of cash flow hedges are recorded $ (25,405) $ (25,042) $ (50,709) $ (50,056) Amount of loss reclassified from accumulated other comprehensive income (loss) into interest expense 1,882 (2,741) 3,154 (6,036)
Schedule of the Carrying and Estimated Fair Values of Financial Instruments	The following tables summarize the carrying and estimated fair values of our financial instruments as of June 30, 2023 and December 31, 2022 (amounts in thousands): June 30, 2023 Estimated Fair Value Carrying Total Level 1 Level 2 Level 3 Interest rate swaps included in prepaid expenses and other assets $ 19,329 $ 19,329 $ — $ 19,329 $ — Interest rate swaps included in accounts payable and accrued expenses — — — — — Mortgage notes payable 880,592 765,621 — — 765,621 Senior unsecured notes - Series A, B, C, D, E, F, G and H 973,768 870,173 — — 870,173 Unsecured term loan facilities 389,028 390,000 — — 390,000 December 31, 2022 Estimated Fair Value Carrying Total Level 1 Level 2 Level 3 Interest rate swaps included in prepaid expenses and other assets $ 17,936 $ 17,936 $ — $ 17,936 $ — Mortgage notes payable 883,705 783,648 — — 783,648 Senior unsecured notes - Series A, B, C, D, E, F, G and H 973,659 865,292 — — 865,292 Unsecured term loan facilities 388,773 390,000 — — 390,000

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Schedule of Components of Rental Revenue	The components of rental revenue for the three and six months ended June 30, 2023 and 2022 are as follows (amounts in thousands): Three Months Ended Six Months Ended Rental revenue June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Fixed payments $ 138,318 $ 134,794 $ 262,882 $ 268,195 Variable payments 16,285 14,545 31,812 28,658 Total rental revenue $ 154,603 $ 149,339 $ 294,694 $ 296,853
Schedule of Future Contractual Minimum Lease Payments on Non-Cancellable Operating Leases to be Received	As of June 30, 2023, we were entitled to the following future contractual minimum lease payments (excluding operating expense reimbursements) on non-cancellable operating leases to be received which expire on various dates through 2040 (amounts in thousands): Remainder of 2023 $ 246,802 2024 504,657 2025 484,668 2026 438,662 2027 419,474 Thereafter 1,963,143 $ 4,057,406
Schedule of Future Minimum Lease Payments	As of June 30, 2023, the following table summarizes our future minimum lease payments discounted by our incremental borrowing rates to calculate the lease liabilities of our leases (amounts in thousands): Remainder of 2023 $ 759 2024 1,518 2025 1,518 2026 1,503 2027 1,482 Thereafter 62,277 Total undiscounted cash flows 69,057 Present value discount (40,503) Ground lease liabilities $ 28,554

Capital (Tables)

Capital (Tables)	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Schedule of Equity Securities Repurchased	The following table summarizes ESRT's purchases of equity securities in each of the three months ended June 30, 2023: Period Total Number of Shares Purchased Weighted Average Price Paid per Share Maximum Approximate Dollar Value Available for Future Purchase (in thousands) April 1 - April 30, 2023 1,214,770 $ 6.09 $ 396,736 May 1 - May 31, 2023 2,700 $ 6.00 $ 396,720 June 1 - June 30, 2023 — $ — $ 396,720
Schedule of ERST Restricted Stock and LTIP Unit Activity	The following is a summary of ESRT restricted stock and LTIP unit activity for the six months ended June 30, 2023: Restricted Stock Time-based LTIPs Market-based LTIPs Performance-based LTIPs Weighted Average Grant Fair Value Unvested balance at December 31, 2022 359,293 2,713,522 4,070,537 510,989 $ 6.69 Vested (106,910) (1,146,682) (311,815) (1,222) 7.66 Granted 370,465 1,693,689 946,398 771,180 5.65 Forfeited or unearned (8,413) — (1,692,910) (2,751) 4.29 Unvested balance at June 30, 2023 614,435 3,260,529 3,012,210 1,278,196 $ 6.52
Schedule of Earnings Per Unit	Earnings per unit for the three and six months ended June 30, 2023 and 2022 is computed as follows (amounts in thousands, except per share amounts): Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Numerator: Net income $ 36,955 $ 48,695 $ 48,649 $ 31,474 Private perpetual preferred unit distributions (1,051) (1,051) (2,101) (2,101) Net (income) loss attributable to non-controlling interests in other partnerships (1) 159 42 222 Earnings allocated to unvested units — (670) — (759) Net income attributable to common unitholders – basic and diluted $ 35,903 $ 47,133 $ 46,590 $ 28,836 Denominator: Weighted average units outstanding – basic 262,903 270,078 263,694 271,834 Effect of dilutive securities: Stock-based compensation plans 1,293 7 1,042 3 Weighted average units outstanding –- diluted 264,196 270,085 264,736 271,837 Earnings per share: Basic $ 0.14 $ 0.17 $ 0.18 $ 0.11 Diluted $ 0.14 $ 0.17 $ 0.18 $ 0.11

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Schedule of Segment Net Income (Loss) for Each Segment	The following tables provide components of segment net income (loss) for each segment for the three and six months ended June 30, 2023 and 2022 (amounts in thousands): Three Months Ended June 30, 2023 Real Estate Observatory Intersegment Elimination Total Revenues: Rental revenue $ 154,603 $ — $ — $ 154,603 Intercompany rental revenue 20,942 — (20,942) — Observatory revenue — 33,433 — 33,433 Third-party management and other fees 381 — — 381 Other revenue and fees 2,125 — — 2,125 Total revenues 178,051 33,433 (20,942) 190,542 Operating expenses: Property operating expenses 39,519 — — 39,519 Intercompany rent expense — 20,942 (20,942) — Ground rent expenses 2,332 — — 2,332 General and administrative expenses 16,075 — — 16,075 Observatory expenses — 8,657 — 8,657 Real estate taxes 31,490 — — 31,490 Depreciation and amortization 46,237 43 — 46,280 Total operating expenses 135,653 29,642 (20,942) 144,353 Total operating income 42,398 3,791 — 46,189 Other income (expense): Interest income 3,289 50 — 3,339 Interest expense (25,405) — — (25,405) Gain on disposition of property 13,565 — — 13,565 Income before income taxes 33,847 3,841 — 37,688 Income tax expense (197) (536) — (733) Net income $ 33,650 $ 3,305 $ — $ 36,955 Segment assets $ 3,928,943 $ 255,825 $ — $ 4,184,768 Expenditures for segment assets $ 32,908 $ — $ — $ 32,908 Three Months Ended June 30, 2022 Real Estate Observatory Intersegment Elimination Total Revenues: Rental revenue $ 149,339 $ — $ — $ 149,339 Intercompany rental revenue 17,109 — (17,109) — Observatory revenue — 27,368 — 27,368 Lease termination fees 18,859 — — 18,859 Third-party management and other fees 326 — — 326 Other revenue and fees 2,130 — — 2,130 Total revenues 187,763 27,368 (17,109) 198,022 Operating expenses: Property operating expenses 37,433 — — 37,433 Intercompany rent expense — 17,109 (17,109) — Ground rent expense 2,332 — — 2,332 General and administrative expenses 15,876 — — 15,876 Observatory expenses — 7,776 — 7,776 Real estate taxes 29,802 — — 29,802 Depreciation and amortization 58,254 50 — 58,304 Total operating expenses 143,697 24,935 (17,109) 151,523 Total operating income 44,066 2,433 — 46,499 Other income (expense): Interest income 426 5 — 431 Interest expense (25,042) — — (25,042) Gain on disposition of property 27,170 — — 27,170 Income before income taxes 46,620 2,438 — 49,058 Income tax expense (38) (325) — (363) Net income $ 46,582 $ 2,113 $ — $ 48,695 Segment assets $ 3,969,257 $ 247,974 $ — $ 4,217,231 Expenditures for segment assets $ 13,115 $ — $ — $ 13,115 Six Months June 30, 2023 Real Estate Observatory Intersegment Elimination Total Revenues: Rental revenue 294,694 — — $ 294,694 Intercompany rental revenue 36,856 — (36,856) — Observatory revenue — 55,587 — 55,587 Third-party management and other fees 808 — — 808 Other revenue and fees 4,075 — — 4,075 Total revenues 336,433 55,587 (36,856) 355,164 Operating expenses: Property operating expenses 81,563 — — 81,563 Intercompany rent expense — 36,856 (36,856) — Ground rent expenses 4,663 — — 4,663 General and administrative expenses 31,783 — — 31,783 Observatory expenses — 16,512 — 16,512 Real estate taxes 63,278 — — 63,278 Depreciation and amortization 93,601 87 — 93,688 Total operating expenses 274,888 53,455 (36,856) 291,487 Total operating income 61,545 2,132 — 63,677 Other income (expense): Interest income 5,847 87 — 5,934 Interest expense (50,709) — — (50,709) Gain on disposition of property 29,261 — — 29,261 Income before income taxes 45,944 2,219 — 48,163 Income tax (expense) benefit (395) 881 — 486 Net income $ 45,549 $ 3,100 $ — $ 48,649 Expenditures for segment assets 35,576 58 — $ 35,634 Six Months June 30, 2022 Real Estate Observatory Intersegment Elimination Total Revenues: Rental revenue 296,853 — — $ 296,853 Intercompany rental revenue 27,729 — (27,729) — Observatory revenue — 40,609 — 40,609 Lease termination fees 20,032 — — 20,032 Third-party management and other fees 636 — — 636 Other revenue and fees 3,926 — — 3,926 Total revenues 349,176 40,609 (27,729) 362,056 Operating expenses: Property operating expenses 76,077 — — 76,077 Intercompany rent expense — 27,729 (27,729) — Ground rent expenses 4,663 — — 4,663 General and administrative expenses 29,562 — — 29,562 Observatory expenses — 13,991 — 13,991 Real estate taxes 59,806 — — 59,806 Depreciation and amortization 125,325 85 — 125,410 Total operating expenses 295,433 41,805 (27,729) 309,509 Total operating income (loss) 53,743 (1,196) — 52,547 Other income (expense): Interest income 575 5 — 580 Interest expense (50,056) — — (50,056) Gain on disposition of property 27,170 — — 27,170 Income (loss) before income taxes 31,432 (1,191) — 30,241 Income tax (expense) benefit (182) 1,415 — 1,233 Net income $ 31,250 $ 224 $ — $ 31,474 Expenditures for segment assets 51,999 291 — $ 52,290

Description of Business and O_2

Description of Business and Organization (Details) ft² in Millions	6 Months Ended
	Jun. 30, 2023 ft² parcel property_unit office_property multifamily_property $ / shares
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Area of real estate property (in square feet)	9.4
Empire state realty OP | Empire state realty trust
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
OP units owned by the company (as a percent)	59.40%
ESRT | Common Class A
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Par value (in dollars per share) | $ / shares	$ 0.01
Office Building
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Area of real estate property (in square feet)	8.6
Number of offices and properties | office_property	11
Office Building | Manhattan
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Area of real estate property (in square feet)	7.6
Number of offices and properties | office_property	9
Office Building | Fairfield County, Connecticut
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Area of real estate property (in square feet)	1.1
Number of offices and properties | office_property	2
Development Parcel
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Number of offices and properties | parcel	3
Office Building And Multifamily | Manhattan
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Area of real estate property (in square feet)	0.5
Other Property | Stamford, Connecticut
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Area of real estate property (in square feet)	0.4
Retail Site | Manhattan
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Area of real estate property (in square feet)	0.2
Number of offices and properties | office_property	4
Multifamily | Manhattan
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Number of offices and properties | multifamily_property	3
Number of property units | property_unit	721

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details)	Jun. 30, 2023
Minimum
Accounting Policies [Line Items]
Observatory revenue realized during the first quarter, previous ten years (as a percent)	16%
Observatory revenue realized during the second quarter, previous ten years (as a percent)	26%
Observatory revenue realized during the third quarter, previous ten years (as a percent)	31%
Observatory revenue realized during the fourth quarter, previous ten years (as a percent)	23%
Maximum
Accounting Policies [Line Items]
Observatory revenue realized during the first quarter, previous ten years (as a percent)	18%
Observatory revenue realized during the second quarter, previous ten years (as a percent)	28%
Observatory revenue realized during the third quarter, previous ten years (as a percent)	33%
Observatory revenue realized during the fourth quarter, previous ten years (as a percent)	25%

Acquisitions and Dispositions (

Acquisitions and Dispositions (Details) - USD ($) $ in Thousands			3 Months Ended		6 Months Ended
	Apr. 05, 2023	Feb. 01, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Business Acquisition [Line Items]
Assets held for sale			$ 0		$ 0		$ 35,538
Gain on disposition of property			$ 13,565	$ 27,170	29,261	$ 27,170
500 Mamaroneck Avenue | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Business Acquisition [Line Items]
Assets held for sale							$ 53,000
Gain on disposition of property	$ 13,600
Estimated post-closing obligations					$ 2,000
69-97 and 103-107 Main Street | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Business Acquisition [Line Items]
Assets held for sale		$ 40,000
Gain on disposition of property		$ 15,700

Deferred Costs, Acquired Leas_3

Deferred Costs, Acquired Lease Intangibles and Goodwill - Deferred Costs, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Leasing costs	$ 219,404	$ 218,707
Total deferred costs, gross amount	404,640	407,223
Less: accumulated amortization	(231,886)	(223,246)
Total deferred costs, net, excluding net deferred financing costs	172,754	183,977
Acquired in-place lease value and deferred leasing costs
Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets	159,356	160,683
Acquired above-market leases
Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets	$ 25,880	$ 27,833

Deferred Costs, Acquired Leas_4

Deferred Costs, Acquired Lease Intangibles and Goodwill - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Deferred Costs [Line Items]
Amortization expense related to deferred leasing costs	$ 6,100	$ 7,300	$ 11,900	$ 14,300
Rental revenue related to amortization of below-market leases, net of above-market leases	700	1,700	1,378	3,459
Goodwill	491,479		491,479		$ 491,479
Observatory
Deferred Costs [Line Items]
Goodwill	227,500		227,500		227,500
Real estate
Deferred Costs [Line Items]
Goodwill	264,000		264,000		264,000
Lease agreements
Deferred Costs [Line Items]
Amortization expense related to acquired lease intangibles	2,300	$ 4,100	4,600	$ 8,300
Unsecured revolving credit facility | Revolving credit facility
Deferred Costs [Line Items]
Net deferred financing costs	$ 3,900		$ 3,900		$ 5,000

Deferred Costs, Acquired Leas_5

Deferred Costs, Acquired Lease Intangibles and Goodwill - Amortizing Acquired Intangible Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Acquired below-market ground leases, net
Acquired below-market ground leases	$ 396,916	$ 396,916
Less: accumulated amortization	(71,759)	(67,843)
Acquired below-market ground leases, net	325,157	329,073
Acquired below-market leases, net
Acquired below-market leases	(63,831)	(64,656)
Less: accumulated amortization	48,551	46,807
Acquired below-market leases, net	$ (15,280)	$ (17,849)

Debt - Long-Term Debt (Details)

Debt - Long-Term Debt (Details)	6 Months Ended
	Jun. 30, 2023 USD ($)	May 18, 2023	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Outstanding borrowings	$ 0		$ 0
Total principal	2,261,361,000
Deferred financing costs, net	(14,542,000)		(16,720,000)
Adjustment benchmark		0.00114
Fixed rate mortgage debt
Debt Instrument [Line Items]
Fixed rate mortgage debt	896,361,000		900,630,000
Mortgages, senior notes, and unsecured term loan facilities, not including unsecured revolving credit facility
Debt Instrument [Line Items]
Total principal	2,261,361,000		2,265,630,000
Deferred financing costs, net	(10,619,000)		(11,748,000)
Unamortized debt discount	(7,354,000)		(7,745,000)
Total	2,243,388,000		2,246,137,000
Metro Center | Fixed rate mortgage debt
Debt Instrument [Line Items]
Fixed rate mortgage debt	$ 81,344,000		82,596,000
Stated Rate (as a percent)	3.59%
Effective Rate (as a percent)	3.67%
10 Union Square | Fixed rate mortgage debt
Debt Instrument [Line Items]
Fixed rate mortgage debt	$ 50,000,000		50,000,000
Stated Rate (as a percent)	3.70%
Effective Rate (as a percent)	3.97%
1542 Third Avenue | Fixed rate mortgage debt
Debt Instrument [Line Items]
Fixed rate mortgage debt	$ 30,000,000		30,000,000
Stated Rate (as a percent)	4.29%
Effective Rate (as a percent)	4.53%
First Stamford Place | Fixed rate mortgage debt
Debt Instrument [Line Items]
Fixed rate mortgage debt	$ 177,347,000		178,823,000
Stated Rate (as a percent)	4.28%
Effective Rate (as a percent)	4.73%
First Stamford Place - First Lien | Fixed rate mortgage debt
Debt Instrument [Line Items]
Stated Rate (as a percent)	4.09%
Face amount	$ 164,000,000
First Stamford Place - Second Lien | Fixed rate mortgage debt
Debt Instrument [Line Items]
Stated Rate (as a percent)	6.25%
Face amount	$ 13,300,000
1010 Third Avenue and 77 West 55th Street | Fixed rate mortgage debt
Debt Instrument [Line Items]
Fixed rate mortgage debt	$ 35,399,000		35,831,000
Stated Rate (as a percent)	4.01%
Effective Rate (as a percent)	4.21%
250 West 57th Street | Fixed rate mortgage debt
Debt Instrument [Line Items]
Fixed rate mortgage debt	$ 180,000,000		180,000,000
Stated Rate (as a percent)	2.83%
Effective Rate (as a percent)	3.21%
1333 Broadway | Fixed rate mortgage debt
Debt Instrument [Line Items]
Fixed rate mortgage debt	$ 160,000,000		160,000,000
Stated Rate (as a percent)	4.21%
Effective Rate (as a percent)	4.29%
345 East 94th Street - Series A(5) | Revolving credit facility | SOFR
Debt Instrument [Line Items]
Variable rate, effective percentage (as a percent)	70%
Basis spread on variable rate (as a percent)	0.95%
345 East 94th Street - Series A(5) | Fixed rate mortgage debt
Debt Instrument [Line Items]
Fixed rate mortgage debt	$ 43,600,000		43,600,000
Effective Rate (as a percent)	3.56%
345 East 94th Street - Series B(5) | Revolving credit facility | SOFR
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	2.24%
345 East 94th Street - Series B(5) | Fixed rate mortgage debt
Debt Instrument [Line Items]
Fixed rate mortgage debt	$ 7,544,000		7,865,000
Effective Rate (as a percent)	3.56%
561 10th Avenue - Series A(5) | Revolving credit facility | SOFR
Debt Instrument [Line Items]
Variable rate, effective percentage (as a percent)	70%
Basis spread on variable rate (as a percent)	1.07%
561 10th Avenue - Series A(5) | Fixed rate mortgage debt
Debt Instrument [Line Items]
Fixed rate mortgage debt	$ 114,500,000		114,500,000
Effective Rate (as a percent)	3.85%
561 10th Avenue - Series B(5) | Revolving credit facility | SOFR
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	2.45%
561 10th Avenue - Series B(5) | Fixed rate mortgage debt
Debt Instrument [Line Items]
Fixed rate mortgage debt	$ 16,627,000		17,415,000
Effective Rate (as a percent)	3.85%
Series A | Senior unsecured notes
Debt Instrument [Line Items]
Total	$ 100,000,000		100,000,000
Stated Rate (as a percent)	3.93%
Effective Rate (as a percent)	3.96%
Series B | Senior unsecured notes
Debt Instrument [Line Items]
Total	$ 125,000,000		125,000,000
Stated Rate (as a percent)	4.09%
Effective Rate (as a percent)	4.12%
Series C | Senior unsecured notes
Debt Instrument [Line Items]
Total	$ 125,000,000		125,000,000
Stated Rate (as a percent)	4.18%
Effective Rate (as a percent)	4.21%
Series D | Senior unsecured notes
Debt Instrument [Line Items]
Total	$ 115,000,000		115,000,000
Stated Rate (as a percent)	4.08%
Effective Rate (as a percent)	4.11%
Series E | Senior unsecured notes
Debt Instrument [Line Items]
Total	$ 160,000,000		160,000,000
Stated Rate (as a percent)	4.26%
Effective Rate (as a percent)	4.27%
Series F | Senior unsecured notes
Debt Instrument [Line Items]
Total	$ 175,000,000		175,000,000
Stated Rate (as a percent)	4.44%
Effective Rate (as a percent)	4.45%
Series G | Senior unsecured notes
Debt Instrument [Line Items]
Total	$ 100,000,000		100,000,000
Stated Rate (as a percent)	3.61%
Effective Rate (as a percent)	4.89%
Series H | Senior unsecured notes
Debt Instrument [Line Items]
Total	$ 75,000,000		75,000,000
Stated Rate (as a percent)	3.73%
Effective Rate (as a percent)	5%
Unsecured term loan facilities | Revolving credit facility
Debt Instrument [Line Items]
Outstanding borrowings	$ 215,000,000		215,000,000
Effective Rate (as a percent)	4.22%
Unsecured term loan facilities | Revolving credit facility | SOFR
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	1.20%
Unsecured revolving credit facility | Revolving credit facility
Debt Instrument [Line Items]
Outstanding borrowings	$ 0		0
Effective Rate (as a percent)	0%
Unsecured revolving credit facility | Revolving credit facility | SOFR
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	1.30%
Unsecured term loan facilities | Revolving credit facility
Debt Instrument [Line Items]
Outstanding borrowings	$ 175,000,000		$ 175,000,000
Effective Rate (as a percent)	4.51%
Unsecured term loan facilities | Revolving credit facility | SOFR
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	1.50%

Debt - Aggregate Required Princ

Debt - Aggregate Required Principal Payments (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Amortization
2023	$ 4,363
2024	8,861
2025	6,893
2026	7,330
2027	6,461
Thereafter	22,079
Total	55,987
Maturities
2023	0
2024	77,675
2025	315,000
2026	225,000
2027	319,000
Thereafter	1,268,699
Total	2,205,374
Total
2023	4,363
2024	86,536
2025	321,893
2026	232,330
2027	325,461
Thereafter	1,290,778
Total	$ 2,261,361

Debt - Deferred Financing Costs

Debt - Deferred Financing Costs, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Debt Disclosure [Abstract]
Financing costs	$ 43,473		$ 43,473		$ 43,473
Less: accumulated amortization	(28,931)		(28,931)		(26,753)
Total deferred financing costs, net	14,542		14,542		$ 16,720
Amortization expense related to deferred financing costs	$ 1,100	$ 1,300	$ 2,200	$ 2,700

Debt - Unsecured Revolving Cred

Debt - Unsecured Revolving Credit and Term Loan Facilities (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022	Mar. 19, 2020
Line of Credit Facility [Line Items]
Outstanding borrowings	$ 0	$ 0
Revolving credit facility | Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	1,065,000,000
Revolving credit facility | Unsecured revolving credit facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	850,000,000
Outstanding borrowings	0	0
Revolving credit facility | Unsecured term loan facilities
Line of Credit Facility [Line Items]
Maximum borrowing capacity	215,000,000
Outstanding borrowings	215,000,000	215,000,000
Revolving credit facility | Unsecured term loan facilities
Line of Credit Facility [Line Items]
Maximum borrowing capacity			$ 175,000,000
Outstanding borrowings	$ 175,000,000	$ 175,000,000
Accordion feature, new maximum borrowing capacity			$ 225,000,000

Accounts Payable and Accrued _3

Accounts Payable and Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued capital expenditures	$ 38,677	$ 44,293
Accounts payable and accrued expenses	29,468	32,927
Accrued interest payable	3,564	3,509
Total accounts payable and accrued expenses	$ 71,709	$ 80,729

Financial Instruments and Fai_3

Financial Instruments and Fair Values - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Designated as hedging instrument | Cash flow hedging
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Net gain to be reclassified into interest expense within the next 12 months			$ 8,500,000
Interest Rate Swap And Interest Rate Cap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swaps liability	$ 0		0
Interest Rate Swap And Interest Rate Cap | Designated as hedging instrument | Cash flow hedging
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Aggregate notional value	574,000,000		574,000,000		$ 574,800,000
Interest rate swaps included in prepaid expenses and other assets	19,400,000		19,400,000		$ 17,900,000
Net unrealized gains on valuation of interest rate swap agreements	$ 10,100,000	$ 12,800,000	$ 3,400,000	$ 25,900,000

Financial Instruments and Fai_4

Financial Instruments and Fair Values - Summary of the Terms of Agreements and the Fair Value of Derivative Financial Instruments (Details) - Designated as hedging instrument - Cash flow hedging - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Asset	$ 19,361,000	$ 17,936,000
Liability	0	0
SOFR | Interest Rate Swap, One Month SOFR, 2.5000 %, Swap Number One
Derivatives, Fair Value [Line Items]
Notional Amount	$ 36,820,000
Receive Rate (as a percent)	70%
Pay Rate	2.50%
Asset	$ 364,000	256,000
Liability	0	0
SOFR | Interest Rate Swap, One Month SOFR, 2.5000 %, Swap Number Two
Derivatives, Fair Value [Line Items]
Notional Amount	$ 103,790,000
Receive Rate (as a percent)	70%
Pay Rate	2.50%
Asset	$ 375,000	365,000
Liability	0	0
SOFR | Interest Rate Swap, One Month SOFR, 1.7570%, Interest Swap
Derivatives, Fair Value [Line Items]
Notional Amount	$ 10,710,000
Receive Rate (as a percent)	70%
Pay Rate	1.757%
Asset	$ 626,000	643,000
Liability	0	0
SOFR | Interest Rate Swap, One Month SOFR, 2.2540%
Derivatives, Fair Value [Line Items]
Notional Amount	$ 16,761,000
Pay Rate	2.254%
Asset	$ 1,067,000	1,070,000
Liability	0	0
SOFR | Interest Rate Cap, One Month SOFR, 4.5000%
Derivatives, Fair Value [Line Items]
Notional Amount	$ 6,780,000
Receive Rate (as a percent)	70%
Pay Rate	4.50%
Asset	$ 4,000	8,000
Liability	0	0
SOFR | Interest Rate Cap, One Month SOFR, 5.5000%
Derivatives, Fair Value [Line Items]
Notional Amount	$ 9,188,000
Pay Rate	5.50%
Asset	$ 28,000	26,000
Liability	0	0
SOFR | Interest Rate Swap, SOFR Compound, 2.5620%
Derivatives, Fair Value [Line Items]
Notional Amount	$ 175,000,000
Pay Rate	2.562%
Asset	$ 8,961,000	8,040,000
Liability	0	0
SOFR | Interest Rate Swap, SOFR Compound, 2.6260%
Derivatives, Fair Value [Line Items]
Notional Amount	$ 107,500,000
Pay Rate	2.626%
Asset	$ 3,967,000	3,766,000
Liability	0	0
SOFR | Interest Rate Swap, SOFR OIS Compound, 2.6280%
Derivatives, Fair Value [Line Items]
Notional Amount	$ 107,500,000
Pay Rate	2.628%
Asset	$ 3,969,000	3,762,000
Liability	$ 0	$ 0

Financial Instruments and Fai_5

Financial Instruments and Fair Values - Effect of Derivative Financial Instruments Designated as Cash Flow Hedges (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) recognized in other comprehensive income (loss)	$ 11,935	$ 10,057	$ 6,533	$ 19,819
Amount of loss reclassified from accumulated other comprehensive income (loss) into interest expense	1,882	(2,741)	3,154	(6,036)
Interest expense	(25,405)	(25,042)	(50,709)	(50,056)
Interest rate swap
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) recognized in other comprehensive income (loss)	11,935	10,057	6,533	19,819
Amount of loss reclassified from accumulated other comprehensive income (loss) into interest expense	1,882	(2,741)	3,154	(6,036)
Interest rate swap | Reclassification out of accumulated other comprehensive income | Accumulated other comprehensive income (loss)
Derivative Instruments, Gain (Loss) [Line Items]
Interest expense	$ 1,882	$ (2,741)	$ 3,154	$ (6,036)

Financial Instruments and Fai_6

Financial Instruments and Fair Values - Schedule of the Carrying and Estimated Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Carrying Value | Mortgage notes payable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	$ 880,592	$ 883,705
Carrying Value | Senior notes | Senior unsecured notes - Series A, B, C, D, E, F, G and H
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	973,768	973,659
Carrying Value | Revolving credit facility | Unsecured term loan facilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	389,028	388,773
Carrying Value | Interest rate swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swaps included in prepaid expenses and other assets	19,329	17,936
Interest rate swaps included in accounts payable and accrued expenses	0
Estimated Fair Value | Mortgage notes payable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	765,621	783,648
Estimated Fair Value | Senior notes | Senior unsecured notes - Series A, B, C, D, E, F, G and H
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	870,173	865,292
Estimated Fair Value | Revolving credit facility | Unsecured term loan facilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	390,000	390,000
Estimated Fair Value | Level 1 | Mortgage notes payable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	0	0
Estimated Fair Value | Level 1 | Senior notes | Senior unsecured notes - Series A, B, C, D, E, F, G and H
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	0	0
Estimated Fair Value | Level 1 | Revolving credit facility | Unsecured term loan facilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	0	0
Estimated Fair Value | Level 2 | Mortgage notes payable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	0	0
Estimated Fair Value | Level 2 | Senior notes | Senior unsecured notes - Series A, B, C, D, E, F, G and H
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	0	0
Estimated Fair Value | Level 2 | Revolving credit facility | Unsecured term loan facilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	0	0
Estimated Fair Value | Level 3 | Mortgage notes payable
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	765,621	783,648
Estimated Fair Value | Level 3 | Senior notes | Senior unsecured notes - Series A, B, C, D, E, F, G and H
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	870,173	865,292
Estimated Fair Value | Level 3 | Revolving credit facility | Unsecured term loan facilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value	390,000	390,000
Estimated Fair Value | Interest rate swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swaps included in prepaid expenses and other assets	19,329	17,936
Interest rate swaps included in accounts payable and accrued expenses	0
Estimated Fair Value | Interest rate swap | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swaps included in prepaid expenses and other assets	0	0
Interest rate swaps included in accounts payable and accrued expenses	0
Estimated Fair Value | Interest rate swap | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swaps included in prepaid expenses and other assets	19,329	17,936
Interest rate swaps included in accounts payable and accrued expenses	0
Estimated Fair Value | Interest rate swap | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest rate swaps included in prepaid expenses and other assets	0	$ 0
Interest rate swaps included in accounts payable and accrued expenses	$ 0

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Thousands	May 18, 2023 USD ($) ft² $ / ft²	Jun. 30, 2023 USD ($) ft² property	May 01, 2023 ft²	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Operating Leases [Line Items]
Area of real estate property (in square feet) | ft²		9,400,000
Number of properties subject to ground leases | property		3
Right-of-use assets		$ 28,554			$ 28,670
Lease liabilities		$ 28,554			$ 28,670
Weighted average discount rate (as a percent)		4.50%
Weighted average remaining lease term (in years)		46 years 10 months 24 days
Signature Bridge Bank | Building
Operating Leases [Line Items]
Straight line rent reserve				$ (6,400)
Flagstar Bank, N.A | Building
Operating Leases [Line Items]
Straight line rent reserve	$ 5,800
Area of real estate property (in square feet) | ft²	313,109
Reduction rate per square foot | $ / ft²	3
Term of rate reduction	5 years
First Republic Bank | Building
Operating Leases [Line Items]
Straight line rent reserve		$ 200
Area of real estate property (in square feet) | ft²			14,430
Minimum
Operating Leases [Line Items]
Term of lease (in years)		1 year
Maximum
Operating Leases [Line Items]
Term of lease (in years)		22 years

Leases - Components of Rental R

Leases - Components of Rental Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Leases [Abstract]
Fixed payments	$ 138,318	$ 134,794	$ 262,882	$ 268,195
Variable payments	16,285	14,545	31,812	28,658
Total rental revenue	$ 154,603	$ 149,339	$ 294,694	$ 296,853

Leases - Future Contractual Min

Leases - Future Contractual Minimum Lease Payments on Non-Cancellable Operating Leases to be Received (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Leases [Abstract]
Remainder of 2023	$ 246,802
2024	504,657
2025	484,668
2026	438,662
2027	419,474
Thereafter	1,963,143
Total future minimum lease payments on non-cancellable operating leases to be received	$ 4,057,406

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments on Ground Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Leases [Abstract]
Remainder of 2023	$ 759
2024	1,518
2025	1,518
2026	1,503
2027	1,482
Thereafter	62,277
Total undiscounted cash flows	69,057
Present value discount	(40,503)
Ground lease liabilities	$ 28,554	$ 28,670

Commitments and Contingencies -

Commitments and Contingencies - Legal Proceedings (Details) - New york state supreme court, new york county $ in Millions		1 Months Ended
	Aug. 26, 2020 USD ($)	Oct. 31, 2014 participant
Loss Contingencies [Line Items]
Number of plaintiffs opting out of settlement (participant) | participant		12
Amount awarded to claimants | $	$ 1.2
Interest period (in years)	7 years

Commitments and Contingencies_2

Commitments and Contingencies - Unfunded Capital Expenditures (Details) $ in Millions	Jun. 30, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Estimated capital expenditures to be incurred	$ 138.4

Capital - Additional Informatio

Capital - Additional Information and Private Perpetual Preferred Units (Details)	6 Months Ended
	Jun. 30, 2023 USD ($) vote class shares	May 16, 2019 shares
Shares and Units [Abstract]
LTIP unit, share of stock equivalent (in shares)	1
Conversion rate tor LTIP units to OP units	1
Dividends on common stock received until performance criteria met for LTIP units (as a percent)	10%
Dividends on common stock received after performance criteria met for LTIP units (as a percent)	90%
Dividends on common stock received in periods after performance criteria met for LTIP units (as a percent)	100%
Stock repurchase authorized amount | $	$ 500,000,000
2019 Plan
Shares and Units [Abstract]
Number of shares authorized under the plan (in shares)	11,000,000	11,000,000
Other partners, certain directors, officers and other members of executive management
Shares and Units [Abstract]
OP units not owned by the Company (in shares)	110,086,858
Other partners, certain directors, officers and other members of executive management | Empire state realty OP
Shares and Units [Abstract]
OP units not owned by the Company (as a percent)	40.60%
Empire state realty trust
Shares and Units [Abstract]
Number of classes of stock | class	2
Exchange ratio	0.020
Number of voting rights | vote	50
Empire state realty trust | Empire state realty OP
Shares and Units [Abstract]
OP units owned by the company (as a percent)	59.40%
Common Class A
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock outstanding (in shares)	159,842,614
Common Class B
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock outstanding (in shares)	988,180

Capital - Equity Securities Rep

Capital - Equity Securities Repurchased (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended
	Jun. 30, 2023	May 31, 2023	Apr. 30, 2023
Equity [Abstract]
Total Number of Shares Purchased (in shares)	0	2,700	1,214,770
Weighted Average Price Paid per Share (in usd per share)	$ 0	$ 6	$ 6.09
Maximum Approximate Dollar Value Available for Future Purchase	$ 396,720	$ 396,720	$ 396,736

Capital - Private Perpetual Pre

Capital - Private Perpetual Preferred Units (Details) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Preferred Units [Line Items]
Dividends declared (in USD per share)	$ 0.035	$ 0.035	$ 0.070	$ 0.070
Private perpetual preferred units, series 2019
Preferred Units [Line Items]
Private perpetual preferred units, issued (in shares)	4,664,038		4,664,038		4,664,000
Private perpetual preferred units, liquidation preference (in USD per share)	$ 13.52		$ 13.52		$ 13.52
Preferred units cumulative cash distributions (in USD per share)	$ 0.70		$ 0.70
Private perpetual preferred units, series 2014
Preferred Units [Line Items]
Private perpetual preferred units, issued (in shares)	1,560,000		1,560,000		1,560,000
Private perpetual preferred units issued during period (in shares)			1,560,360
Private perpetual preferred units, liquidation preference (in USD per share)	$ 16.62		$ 16.62		$ 16.62
Dividends declared (in USD per share)			$ 0.60

Capital - Distributions (Detail

Capital - Distributions (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Equity [Abstract]
Distributions paid to OP unitholders	$ 9.5	$ 9.7	$ 18.2	$ 19.5
Distributions paid to preferred unitholders	$ 1.1	$ 1.1	$ 2.1	$ 2.1

Capital - Incentive and Share-b

Capital - Incentive and Share-based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Jul. 31, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	May 16, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in USD per share)				$ 5.65
Performance period (in years)				10 years
Granted In 2020 And After
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Retirement age (in years)				65 years
Granted Before 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Retirement age (in years)				60 years
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Age of grantee at which LTIP unit and restricted stock awards immediately vest (in years)				60 years
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Age of grantee at which LTIP unit and restricted stock awards immediately vest (in years)				65 years
Awards that meet age and service requirements for vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Noncash share-based compensation expense recognized		$ 1,000	$ 600	$ 1,700	$ 1,600
Unrecognized compensation expense		3,900		$ 3,900
Unrecognized compensation expense, period for recognition (in years)				2 years 7 months 6 days
Awards that do not meet age and service requirements for vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Noncash share-based compensation expense recognized		4,400	$ 5,400	$ 8,100	$ 8,900
Unrecognized compensation expense		$ 32,300		$ 32,300
Unrecognized compensation expense, period for recognition (in years)				2 years 8 months 12 days
Time-based LTIPs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)				1,693,689
Vested in period (in shares)				1,146,682
Threshold of continuous service for retirement eligibility (in years)				10 years
Time-based LTIPs | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)				3 years
Time-based LTIPs | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)				5 years
Time-based LTIPs | Median
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)				4 years
Market-based LTIPs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)				946,398
Vested in period (in shares)				311,815
Market-based LTIPs | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)				3 years
Market-based LTIPs | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)				4 years
Long-term incentive plan units and restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of share-based awards granted in period				$ 21,400
Granted (in USD per share)				$ 5.65
Dividend rate (as a percent)				1.70%
Risk free interest rate, minimum (as a percent)				4.40%
Risk free interest rate, maximum (as a percent)				5%
Expected price volatility, minimum (as a percent)				35%
Expected price volatility, maximum (as a percent)				46%
Long-term incentive plan units and restricted stock | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)				2 years
Long-term incentive plan units and restricted stock | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)				5 years 3 months 18 days
Director | Time-based LTIPs | Tranche one | Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested in period (in shares)	0.25
2019 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized under the plan (in shares)		11,000,000		11,000,000		11,000,000
Number of shares that remain available for future issuance (in shares)		4,200,000		4,200,000
2019 Plan | Director | Time-based LTIPs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Annual base retainer		$ 200		$ 200
Award vesting percentage of award face amount (as a percent)		120%		120%
Granted (in shares)				237,856
Fair value of share-based awards granted in period				$ 1,200
2019 Plan | Director | Time-based LTIPs | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)				3 years
2019 Plan | Director | Time-based LTIPs | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)				4 years
2019 Plan | Director | Time-based LTIPs | Tranche one
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rights (as a percent)				60%
Award vesting period (in years)				4 years
2019 Plan | Director | Time-based LTIPs | Tranche two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rights (as a percent)				40%
Award vesting period (in years)				3 years

Capital - Summary of ESRT Restr

Capital - Summary of ESRT Restricted Stock and LTIP Unit Activity (Details)	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Weighted Average Grant Fair Value
Beginning balance, Unvested (in USD per share) | $ / shares	$ 6.69
Vested (in USD per share) | $ / shares	7.66
Granted (in USD per share) | $ / shares	5.65
Forfeited or unearned (in USD per share) | $ / shares	4.29
Ending balance, Unvested (in USD per share) | $ / shares	$ 6.52
Restricted Stock
Restricted Stock and LTIP Units
Beginning balance, Unvested (in shares)	359,293
Vested (in shares)	(106,910)
Granted (in shares)	370,465
Forfeited or unearned (in shares)	(8,413)
Ending balance, Unvested (in shares)	614,435
Time-based LTIPs
Restricted Stock and LTIP Units
Beginning balance, Unvested (in shares)	2,713,522
Vested (in shares)	(1,146,682)
Granted (in shares)	1,693,689
Forfeited or unearned (in shares)	0
Ending balance, Unvested (in shares)	3,260,529
Market-based LTIPs
Restricted Stock and LTIP Units
Beginning balance, Unvested (in shares)	4,070,537
Vested (in shares)	(311,815)
Granted (in shares)	946,398
Forfeited or unearned (in shares)	(1,692,910)
Ending balance, Unvested (in shares)	3,012,210
Performance-based LTIPs
Restricted Stock and LTIP Units
Beginning balance, Unvested (in shares)	510,989
Vested (in shares)	(1,222)
Granted (in shares)	771,180
Forfeited or unearned (in shares)	(2,751)
Ending balance, Unvested (in shares)	1,278,196

Capital - Earnings Per Unit (De

Capital - Earnings Per Unit (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Numerator:
Net income	$ 36,955	$ 48,695	$ 48,649	$ 31,474
Private perpetual preferred unit distributions	(1,051)	(1,051)	(2,101)	(2,101)
Net (income) loss attributable to non-controlling interests in other partnerships	(1)	159	42	222
Earnings allocated to unvested shares - basic	0	(670)	0	(759)
Earnings allocated to unvested shares - diluted	0	(670)	0	(759)
Net income attributable to common unitholders - basic	35,903	47,133	46,590	28,836
Net income attributable to common unitholders - diluted	$ 35,903	$ 47,133	$ 46,590	$ 28,836
Denominator:
Weighted average units outstanding - basic (in shares)	262,903	270,078	263,694	271,834
Effect of dilutive securities:
Stock-based compensation plans (in share)	1,293	7	1,042	3
Weighted average units outstanding - diluted (in shares)	264,196	270,085	264,736	271,837
Earnings per share:
Basic (in USD per share)	$ 0.14	$ 0.17	$ 0.18	$ 0.11
Diluted (in USD per share)	$ 0.14	$ 0.17	$ 0.18	$ 0.11
Antidilutive securities (in shares)	0	603	0	398

Related Party Transactions (Det

Related Party Transactions (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($) ft² property	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) ft² property	Jun. 30, 2022 USD ($)	Feb. 28, 2023 USD ($)	Dec. 31, 2022 USD ($)
Related Party Transaction [Line Items]
Total revenues	$ 190,542	$ 198,022	$ 355,164	$ 362,056
Area of real estate property (in square feet) | ft²	9,400,000		9,400,000
Accounts payable and accrued expenses	$ 71,709		$ 71,709			$ 80,729
Affliliated entity | Disposal Group, Disposed of by Sale, Not Discontinued Operations | 69-97 and 103-107 Main Street
Related Party Transaction [Line Items]
Accounts payable and accrued expenses	100		100
Affliliated entity | Disposal Group, Disposed of by Sale, Not Discontinued Operations | 69-97 and 103-107 Main Street | SOFR
Related Party Transaction [Line Items]
Loan receivable					$ 600
Basis spread on loan					3.50%
Affliliated entity | Supervisory fee revenue | Third party management and other fees
Related Party Transaction [Line Items]
Total revenues	300	300	500	500
Affliliated entity | Property management fee revenue | Third party management and other fees
Related Party Transaction [Line Items]
Total revenues	50	100	200	100
Affliliated entity | Leased space rental
Related Party Transaction [Line Items]
Total revenues	$ 100	$ 100	$ 200	$ 200
Number of properties | property	1		1
Lease cancellation, notice period (in days)			90 days
Undivided Interest
Related Party Transaction [Line Items]
Area of real estate property (in square feet) | ft²	5,447		5,447
Chairman emeritus | Leased space rental
Related Party Transaction [Line Items]
Percentage of lease space occupied by Chairman emeritus and employee			15%

Segment Reporting - Narrative (

Segment Reporting - Narrative (Details)	6 Months Ended
	Jun. 30, 2023 segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segment Reporting - Components

Segment Reporting - Components of Segment Net Income (Loss) for Each Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Revenues:
Rental revenue	$ 154,603	$ 149,339	$ 294,694	$ 296,853
Intercompany rental revenue	0	0	0	0
Observatory revenue	33,433	27,368	55,587	40,609
Lease termination fees	0	18,859	0	20,032
Third-party management and other fees	381	326	808	636
Other revenue and fees	2,125	2,130	4,075	3,926
Total revenues	190,542	198,022	355,164	362,056
Operating expenses:
Property operating expenses	39,519	37,433	81,563	76,077
Intercompany rent expense	0	0	0	0
Ground rent expenses	2,332	2,332	4,663	4,663
General and administrative expenses	16,075	15,876	31,783	29,562
Observatory expenses	8,657	7,776	16,512	13,991
Real estate taxes	31,490	29,802	63,278	59,806
Depreciation and amortization	46,280	58,304	93,688	125,410
Total operating expenses	144,353	151,523	291,487	309,509
Total operating income (loss)	46,189	46,499	63,677	52,547
Other income (expense):
Interest income	3,339	431	5,934	580
Interest expense	(25,405)	(25,042)	(50,709)	(50,056)
Gain on disposition of property	13,565	27,170	29,261	27,170
Income (loss) before income taxes	37,688	49,058	48,163	30,241
Income tax (expense) benefit	(733)	(363)	486	1,233
Net income	36,955	48,695	48,649	31,474
Segment assets	4,184,768	4,217,231	4,184,768	4,217,231	$ 4,163,594
Expenditures for segment assets	32,908	13,115	35,634	52,290
Intersegment Elimination
Revenues:
Rental revenue	0	0	0	0
Intercompany rental revenue	(20,942)	(17,109)	(36,856)	(27,729)
Observatory revenue	0	0	0	0
Lease termination fees		0		0
Third-party management and other fees	0	0	0	0
Other revenue and fees	0	0	0	0
Total revenues	(20,942)	(17,109)	(36,856)	(27,729)
Operating expenses:
Property operating expenses	0	0	0	0
Intercompany rent expense	(20,942)	(17,109)	(36,856)	(27,729)
Ground rent expenses	0	0	0	0
General and administrative expenses	0	0	0	0
Observatory expenses	0	0	0	0
Real estate taxes	0	0	0	0
Depreciation and amortization	0	0	0	0
Total operating expenses	(20,942)	(17,109)	(36,856)	(27,729)
Total operating income (loss)	0	0	0	0
Other income (expense):
Interest income	0	0	0	0
Interest expense	0	0	0	0
Gain on disposition of property	0	0	0	0
Income (loss) before income taxes	0	0	0	0
Income tax (expense) benefit	0	0	0	0
Net income	0	0	0	0
Segment assets	0	0	0	0
Expenditures for segment assets	0	0	0	0
Real Estate | Operating segments
Revenues:
Rental revenue	154,603	149,339	294,694	296,853
Intercompany rental revenue	20,942	17,109	36,856	27,729
Observatory revenue	0	0	0	0
Lease termination fees		18,859		20,032
Third-party management and other fees	381	326	808	636
Other revenue and fees	2,125	2,130	4,075	3,926
Total revenues	178,051	187,763	336,433	349,176
Operating expenses:
Property operating expenses	39,519	37,433	81,563	76,077
Intercompany rent expense	0	0	0	0
Ground rent expenses	2,332	2,332	4,663	4,663
General and administrative expenses	16,075	15,876	31,783	29,562
Observatory expenses	0	0	0	0
Real estate taxes	31,490	29,802	63,278	59,806
Depreciation and amortization	46,237	58,254	93,601	125,325
Total operating expenses	135,653	143,697	274,888	295,433
Total operating income (loss)	42,398	44,066	61,545	53,743
Other income (expense):
Interest income	3,289	426	5,847	575
Interest expense	(25,405)	(25,042)	(50,709)	(50,056)
Gain on disposition of property	13,565	27,170	29,261	27,170
Income (loss) before income taxes	33,847	46,620	45,944	31,432
Income tax (expense) benefit	(197)	(38)	(395)	(182)
Net income	33,650	46,582	45,549	31,250
Segment assets	3,928,943	3,969,257	3,928,943	3,969,257
Expenditures for segment assets	32,908	13,115	35,576	51,999
Observatory | Operating segments
Revenues:
Rental revenue	0	0	0	0
Intercompany rental revenue	0	0	0	0
Observatory revenue	33,433	27,368	55,587	40,609
Lease termination fees		0		0
Third-party management and other fees	0	0	0	0
Other revenue and fees	0	0	0	0
Total revenues	33,433	27,368	55,587	40,609
Operating expenses:
Property operating expenses	0	0	0	0
Intercompany rent expense	20,942	17,109	36,856	27,729
Ground rent expenses	0	0	0	0
General and administrative expenses	0	0	0	0
Observatory expenses	8,657	7,776	16,512	13,991
Real estate taxes	0	0	0	0
Depreciation and amortization	43	50	87	85
Total operating expenses	29,642	24,935	53,455	41,805
Total operating income (loss)	3,791	2,433	2,132	(1,196)
Other income (expense):
Interest income	50	5	87	5
Interest expense	0	0	0	0
Gain on disposition of property	0	0	0	0
Income (loss) before income taxes	3,841	2,438	2,219	(1,191)
Income tax (expense) benefit	(536)	(325)	881	1,415
Net income	3,305	2,113	3,100	224
Segment assets	255,825	247,974	255,825	247,974
Expenditures for segment assets	$ 0	$ 0	$ 58	$ 291